A Vietnamese garment-textile factory (Photo: VNA)HCM City (VNA) – Vietnam is a potential market to which Indian businesses are seeking opportunitiesto boost export of textile machines and equipment, said N.D. Mhatre, Director General(Technical) of the Indian TextileAccessories and Machinery Manufacturers Association (ITAMMA).
As one of the world’sleading textiles and garment exporters, Vietnam has a growing demand formachinery and equipment, thereby creating big opportunities for Indian firms,Mhatre at a Vietnam-Indian business exchange programme co-held by ITAMMA and theConsulate General of India in HCM City on July 20.
The director notedthat India’s export turnover of textiles-garment machinery and equipment surpassed400 million USD in 2016, but its earnings from Vietnam reached only 400,000USD.
Therefore, Indianenterprises wish to boost trade promotion and business networking in thegarment and textiles sector in order to build up long-term cooperative ties, headded.
In addition, ITAMMAplans to set up a textiles-garment technology centre in Ho Chi Minh City tointroduce machines, equipment and provide after-sale services to Vietnamesecustomers. It will also serve as a venue for the two countries’ businesses toexchange and update on the latest technologies in the field.
Participants shared aview that Indian businesses have opportunities to supply machines and equipmentwith affordable prices to the Vietnamese market as machines imported fromEurope have high prices.
Nguyen Thi Tuyet Mai,Vice General Secretary of the Vietnam Textile and Apparel Association (VITAS),also affirmed that India is an important trade partner of Vietnam in the fieldof garment-textiles and machinery, while Vietnam is a potential market forIndian businesses.
This is a convenienttime for Vietnamese and Indian companies to enhance cooperation in thegarment-textiles sector, she said, suggesting that Indian firms should workwith Vietnamese fabric and textile factories to create material supply chainsin Vietnam, bringing long-term benefits to both sides.-VNA
