Indian Textile Accessories and Machinery Manufacturers Association (ITAMMA) plans to set up a textile and garment technology centre in Vietnam to introduce machines, equipment and provide after-sale services to Vietnamese customers. It will also serve as a venue for the two countries’ businesses to exchange and update on the latest technologies.

Vietnam is a potential market where Indian businesses are seeking opportunities to boost export of textile machines and equipment. As one of the world’s leading textile and garment exporters, Vietnam has a growing demand for machinery and equipment, thereby creating big opportunities for Indian firms.

Indian businesses have opportunities to supply machines and equipment at affordable prices to the Vietnamese market as machines imported from Europe have high prices. India’s export turnover of textile and garment machinery and equipment surpassed $400 million in 2016 and its earnings from Vietnam was much less. Therefore, Indian enterprises want to boost trade and business networking in Vietnam’s garment and textile sector. Indian firms can work with Vietnamese fabric and textile factories to create material supply chains, bringing long-term benefits to both sides. India is an important trade partner for Vietnam in the field of garment and textiles and machinery and Vietnam is a potential market for Indian businesses.