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Indian textile exporters seek opportunities in Vietnam
21
Jun '12
A delegation of Indian textile manufacturers and exporters is on a visit to Vietnam to explore new business opportunities in the Southeastern nation.
 
Representatives of 12 leading Indian cotton and textile exporting companies, part of a delegation from The Cotton Textiles Export Promotion Council of India (Texprocil), met with Vietnamese textile and garment manufacturers in HCM City.
 
Vietnamese importers are currently on the look out for alternative sources for raw materials and Indian exporters can very well meet their cotton textiles demand, said Amit Ruparelia, Texprocil Chairman.
 
Nguyen Van Tuan, Chief Representative of the Vietnam Textile and Apparel Association (VITAS) in HCM City, said around 98-99 percent of Vietnam’s overall cotton requirement is met from imports.
 
Vietnam imports around US$ 1 billion worth of cotton, mainly from the US, Brazil, India and South Africa, with India alone accounting for about 20 percent of its total cotton imports, he informed.
 
Vietnam’s garment industry also consumes a large quantity of fabric, and Indian companies can supply the same, he stated.
 
Out of the total 6.8 billion sq m of fabric demand in 2011, only 0.8 billion sq m was supplied by domestic firms and the country had to import the rest of the fabric, he added.
 
Last year, Vietnamese garment and textile industry registered US$ 13.8 billion in exports and it expects to cross the US$ 15 billion mark this year.
 
However, around 80 percent of the raw material and accessories used in apparel making, including cotton, yarn and fabric, is imported from other countries, according to Nguyen The Hung, Deputy Director of the Vietnam Chamber of Commerce and Industry, HCM City branch.
 

Fibre2fashion News Desk - India

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