Dung said despite the high growth rates seen over recent years – the added value in the clothing industry is still far too limited. Further, there are only a few companies fully integrated that can manufacture their own yarn, and knit, dye and finish in their own factories
There are roughly 5,000 businesses, most of them small, in the industry creating jobs for an estimated 2.5 million people. The government has targeted to increase the country's textile and clothing exports to $35 billion by 2020 and further to $60 billion by 2030. The BIDV's $2 billion commitment would contribute significantly to achieving these goals, Dung said. (SH)
Fibre2Fashion News Desk – India
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