Numerous Indian firms are seeking opportunities to export their garment-textile machines to Vietnam.

Executive Director of the India International Textile Machinery Exhibitions Society (India ITME Society) Seema Srivastava made the remark while introducing the 2016 International Textile Machinery Exhibitions (ITME 2016) in Ho Chi Minh City on October 7.

At the event introducing ITME 2016 on October 7. (Photo: chinhphu.vn)

India wants to expand its investment in garment-textile machinery and technology overseas, including Vietnam, she said, adding that this is a favourable time for the two countries to boost their cooperation in the sector.

Director of the Vietnam Chamber of Commerce and Industry – Ho Chi Minh City branch Vo Tan Thanh noted that an increasing number of Indian investors have been surveying business opportunities in Vietnam, saying that India is an important partner of Vietnam in the garment-textile sector while Vietnam is also a potential market for Indian firms.

According to Thanh, Vietnam’s textile-garment sector, which is dependent on imported materials and machinery, needs to switch to more sustainable development models. Therefore, Indian firms can seize the chances to partner with Vietnamese counterparts for mutually-beneficial cooperation.

Sanjiv Lathia from the organisation board of the ITME 2016 said the event, with the participation of 77 international industrial associations, will allow Vietnamese firms to meet with potential partners, access new suppliers of materials and green technology and expand their market.

The India ITME is the world’s second biggest garment-textile machinery exhibition. The event will take place in Mumbai, India, from December 3-8 under the auspices of the Indian Ministries of Textiles and Heavy Industry.

Source: VNA