Vietnamese apparel businesses sought for long-term mutually beneficial partnerships with Indian materials suppliers at a workshop in Ho Chi Minh City on June 29.
The workshop was jointly held by the Vietnam Chamber of Commerce and Industry’s Ho Chi Minh City branch and the Indian cotton product export promotion association – TEXPROCIL.
According to Amit Ruparelia, TEXPROCIL President, India has long been a supplier of raw materials for Vietnam ’s garment and textile industry.
Vietnam apparel producers doubled imports of raw materials from India in 2010, at the value of $55 million.
They learnt new types of raw materials from Indian suppliers during this workshop as they have to date imported up to 80 per cent of raw materials for production.
Bilateral trade between Vietnam and India rose in recent years, reaching over $2.7 billion in 2010. Of the figure, Vietnam’s exports to India increased 136.34 per cent to $991.63 million.
Vietnam is one of the world’s top ten apparel exporters. In the first six months of this year, it raked in $6.16 billion from apparel export, up 30 per cent over the same period last year.
The country expects to earn 13.2-$13.5 million from apparels this year.