Cooperation between the garment and textile sector will be one of the priorities in Vietnam and India’s efforts to raise bilateral trade value. Both have prioritized development and cooperation with the aim of enhancing bilateral trade and building a supply chain for the textile sector.
In 2017, India’s apparel exports to Vietnam surged 44 per cent. To enhance trade cooperation, India intends to export apparel fabrics worth one billion dollars to Vietnam. Despite being one of the five largest apparel exporters in the world, Vietnam also imports the highest amount of garments and textile materials in the world.
And India owns a strong fiber and yarn production industry that is able to produce almost all kinds of fabrics and supporting materials available in the market, making it one of the three largest textile products providers in the world. India is strong in producing and exporting textile products from synthetic yarn, being used widely in the global garment industry.
While Vietnam will gain from India with regard to latest technology, textile materials and products, India too can expand its market. Vietnam applauds the quality of Indian fabric.