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Vietnam a strong market for Indian cotton

Vietnam may emerge as a major importer of Indian cotton. In 2016-17, Vietnam imported five million bales of cotton compared to 4.5 million bales a year before. Now it wants Indian cotton to meet the rising demand of its garment and textile sectors. Vietnam’s domestic production of cotton meets only one per cent of demand. The country needs over 5,00,000 tons of cotton to satisfy the needs of its garment and textile manufacturers.

Vietnam’s apparel industry is growing rapidly. With an export growth of 20 per cent a year, the sector is expected to generate a turnover of $40 billion by 2020. There has been a large inflow of foreign investments in the country’s textile industry, which has led to an increased demand for cotton. Mainly exporting to Bangladesh, Pakistan and China, India is the world’s top producer of cotton.

 
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