Home / Knowledge / News / Apparel/Garments / Raw material imports drain clothing sector profits
Raw material imports drain clothing sector profits
04
Feb '10
Over the last four years, garment export revenue of the country has been witnessing growth which has touched US $9 billion a year. However, the Vietnamese businesses are not gaining profits.

Though the country has proper climate and soil for producing cotton, the overall output of cotton is not enough to attain the requirements of the country's textile industry.

The garment companies of the country purchase around 70 percent of required raw materials mostly from China and Taiwan as the country witnesses' dearth of raw materials required to manufacture garment items.

Each year, garment enterprises of the country have to purchase $2.5 billion to $4 billion worth of raw materials, for instance, in the year 2009, country generated $9 billion revenue from the garment and textile exports, but had to purchase $5.4 billion worth of raw materials like cotton, fibre and fabric.

Under the plans framed for the development of garment and textile industry, which have been approved by the Prime Minister of the country, Vietnam will put in efforts to bring in an earning of $14.8 billion this year, $22.5 billion and $31 billion by years 2015 and 2020 respectively.

Moreover, the Ministry of Industry and Trade and the Vietnam Textile and Garment Group (Vinatex) aims to broaden the area under cotton up to 150,000 hectares, as part of the plan, in a bid to produce 80,000 tons of cotton fiber during current year, which could fulfill 50 percent of this year's total demand. For this plan, Vinatex and its member companies would need to spend around 6,500 billion dong.

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Marcel Alberts
Eurofibers

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

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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

October 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.3%
No
13.6%
Skip
9.1%

Total Votes: 66

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
60.6%
No
28.8%
Skip
10.6%

Total Votes: 66

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
84.8%
No
10.6%
Skip
4.5%

Total Votes: 66

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
74.2%
No
12.1%
Skip
13.6%

Total Votes: 66


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search