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Apparel retail sector gird up its loins to ace out India
07
Aug '08
Taking the advantages of cheap labor and dynamic consumer market, especially with international fashion brand names, Vietnamese textile and apparel industry has strongly developed itself in the last five years.

Current scenario predicts that the country has become more lucrative compared to Indian retail market. In terms of export, low labour cost has brought an advantage to the country.

Further, supporting this, Mr D K Nair, Secretary General of Confederation of Indian Textile Industry, (CITI) stated, “Revised labour law in China are forcing global textile firms to shift their bases to Vietnam. This obviously has increased export of the country.”

According to Global Retail Development Index 2008, in the last few years foreign investments have been pouring in Vietnam. This has provided support to take over India's position as a profit making retail destination.

Fibre2fashion News Desk - Vietnam

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