Home / Knowledge / News / Apparel/Garments / Garment industry to reduce dependence on raw material imports
Garment industry to reduce dependence on raw material imports
05
Sep '11
Vietnam's garment industry is aiming to reduce its dependence on imported raw materials by focusing more on the use of domestic raw materials for its garment and textile industries.

The garment and textiles industry is the third largest export revenue generator for the country's exchequer. However, the net earnings of the sector remain to be relatively low due to its greater reliance on imported raw inputs.

As per the garment and textiles sector data, though the sector made US$ 9 billion in exports during January to August this year, it imported raw inputs worth US$ 5.5 billion during the same period.

In accordance with an extensive plan prepared by the Ministry of Industry and Trade for the sector, the country is expected to produce 500,000 tons of fibre and 1.5 billion square metres of cloth through 2015, and would thus boost the overall export earnings to US$ 18 billion.

Around 60 percent of the raw materials for the country's garment industry would be sourced from domestic sources till 2015 and this ratio would be raised to 70 percent by 2020. It is projected that by 2020 the garment industry would grow its production to 650,000 tons of fibre and two billion square metres of cloth, thus making US$ 25 billion in export earnings.

Lately, Vietnam has been investing in raw material storage centres and cotton plantations to boost the use of domestic raw materials in garment and textiles industry.

The area under cotton cultivation had fallen below 3,000 hectares in 2009 from over 32,600 hectares in 2001. Owing to this almost no domestic sourcing for fibre production is available compelling the producers to completely rely on imports from foreign countries.

Though the country has reclaimed its cotton cultivation acreage to some extent, but by now it has only been able to recover 10,000 hectares of area.

In the past, dearth or unavailability of raw material has caused several raw material storage centres to suffer badly, like for instance, Ho Chi Minh City based Saigon Garment JSC No.2 steadily shifted its operations to other business.

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: American & Efird

Textiles | On 20th May 2018

A&E introduces Repel

American & Efird (A&E), a global leader in industrial sewing thread...

Archroma working with House of Denim Foundation

Textiles | On 20th May 2018

Archroma working with House of Denim Foundation

Archroma, a leader in colour and specialty chemicals, has joined...

Courtesy: Amazon

Textiles | On 20th May 2018

Amazon opening first fulfillment centre in Tucson

Amazon.com is opening its first fulfillment centre in Tucson, which...

Interviews View All

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Top executives
Textile industry

The foremost issue is bridging the skill gap

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search