An increasing number of garment manufacturers are looking for fabric suppliers in India, a world-famous silk producer, according to the Vietnam National Textile and Garment Group (Vinatex).

Chairman of the group Tran Quang Nghi said it is feasible for the two countries’ garment sectors to boost their cooperation for mutual benefit. Vietnam is one of the world’s largest garment and textile exporters, while India is strong in producing fabrics, he noted.

Vietnamese garment manufacturers looking for fabric suppliers in India. (Photo for illustration). Source: baohaiquan.vn

Vietnam’s legal and business climate is changing fundamentally in the near future, becoming more competitive, Nghi said. Stronger bilateral trade links would help Vietnamese enterprises source materials of a high quality and at reasonable prices, Nghi added.

Head of the Vinatex market department Tran Viet said the Indian Consulate General’s introduction of the “Made in India” campaign, launched by Prime Minister Narendra Modi last October, aiming to develop the country into a global manufacturing hub, means India could become an apparel production centre for Vietnam, he added.

A large number of Vietnamese firms attended an international exhibition on the garment sector in Ahmedabad, India, paying particular attention to Indian materials and suppliers. They also had the chance to undertake fact-finding tours to explore cooperation opportunities with Indian partners.

Director General of Phu Bai Fibre Joint Stock Company Bui Nguyen Tien suggested India partner with Vietnam to establish joint ventures on weaving and dyeing fabrics at specific industrial parks in the Southeast Asian country.

According to the ASEAN-Indian Free Trade Agreement, the garment sector will benefit from tax cuts, providing Vietnam the opportunity to diversity its fabric supply, restructure production models and boost exports.

Source: VNA