Textile and garment companies of India are looking to promote trade cooperation with Vietnamese enterprises. The country’s textile and garment materials export turnover to Vietnam in recent years has increased on an average by 20 per cent a year.

Vietnam is one of the five largest textile and garment exporters in the world. However, the country is also one of the world’s leading importers of fabrics and materials. The shortage of high-quality materials for production is the biggest barrier to Vietnam’s textile and garment industry, hindering the country from taking advantage of free trade agreements.

Cooperating with Indian businesses will be an effective measure to diversify material supply resources for Vietnam. Vietnamese and Indian textile and garment firms see this as a good time to enhance links in investing, exporting materials and technical assistance for mutual benefit.

Apparel occupies a large proportion in India’s exports. The country’s textile and garment industry has developed a complete product supply chain and the country is also one of the suppliers of high-quality materials and fabrics at competitive prices in the world.

Trade promotion programs can help Indian businesses make deeper inroads into the Vietnamese market. These can also help Vietnamese businesses seek more material suppliers and learn from effective production models.