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India Attempts to Export More Textile Products to Vietnam
Posted: 08/27/2014 02:08:38 Edited: 08/27/2014 03:08:38Clicks: 5572
At recent Vietnam-India Textile and Apparel Trade Fair, Officials from Indian Cotton Export Promotion Council emphasized powerful competitiveness of Indian clothing materials.
It is said that Vietnam textile and garments industry has a great demand on various fabrics, including rib knitting fabrics, french terry knitted fabrics, honey comb knit fabrics, etc. India can satisfy this requirement perfectly with its excellent competitiveness on production and supply.
Because of weak design ability, Vietnam enterprises companies mainly get involved in products processing field. Vietnam textile products has made an obvious growth since 2013. Nevertheless, materials for textile products still depend on imports.
Vietnam adopted Vietnam Goods Firstly For Vietnamese policy five years ago. Then on 20th August, 2014, the whole practice situation is disclosed by the Central Steering Committee.
With five-years’ practice, local textile companies in Vietnam increase their business income step by step. In 2010, the total income was 157 thousand dongs (0.74 billion USD). However, the statistic rises to 222 thousand dongs (1.04 billion USD) in 2014. It is estimated to have a growth of 6.3% on year-on-year basis.
In past five years, the localization rate of Vietnam textile industry is increasing quickly, growing by 20%.
India attempts to increase export products to Vietnam for several reasons.
First, the market in Vietnam is great.
Second, India is eager to get rid of dilemma situation in textile exports field.
According to Indian media, exports of Indian cotton yarns declined by nearly 20% in the first quarter of 2014. This is mainly caused by the decreasing of Chinese demand.
It is said that Vietnam textile and garments industry has a great demand on various fabrics, including rib knitting fabrics, french terry knitted fabrics, honey comb knit fabrics, etc. India can satisfy this requirement perfectly with its excellent competitiveness on production and supply.
Because of weak design ability, Vietnam enterprises companies mainly get involved in products processing field. Vietnam textile products has made an obvious growth since 2013. Nevertheless, materials for textile products still depend on imports.
Vietnam adopted Vietnam Goods Firstly For Vietnamese policy five years ago. Then on 20th August, 2014, the whole practice situation is disclosed by the Central Steering Committee.
With five-years’ practice, local textile companies in Vietnam increase their business income step by step. In 2010, the total income was 157 thousand dongs (0.74 billion USD). However, the statistic rises to 222 thousand dongs (1.04 billion USD) in 2014. It is estimated to have a growth of 6.3% on year-on-year basis.
In past five years, the localization rate of Vietnam textile industry is increasing quickly, growing by 20%.
India attempts to increase export products to Vietnam for several reasons.
First, the market in Vietnam is great.
Second, India is eager to get rid of dilemma situation in textile exports field.
According to Indian media, exports of Indian cotton yarns declined by nearly 20% in the first quarter of 2014. This is mainly caused by the decreasing of Chinese demand.
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