TẠP CHÍ ĐIỆN TỬ
Vietnam, India weave sustainable textile partnership
Vietnam can meet India’s rising demand for high-quality polyester fabrics, an estimated $1.2 billion market annually.
The textile and garment industries of both Vietnam and India hold significant potential for collaboration, offering mutual benefits in raw material supply, production capacity, and trade expansion.
Mr. Bui Trung Thuong, Commercial Counselor and Head of the Vietnam Trade Office in India, was quoted by Radio the Voice of Vietnam as stating in an online seminar on Vietnam-India cooperation in the textile industry, held by the Vietnam Trade Office in India on May 23, that Vietnam ranks among the world’s top three textile and garment exporters, achieving over $43 billion in export turnover in 2024, a 10.1% increase from 2023.
The sector employs more than 3 million workers but remains heavily dependent on imported materials from China, which account for 57% of the total, necessitating urgent supply chain diversification.
Mr. Thuong emphasized that India, with its competitive advantages in cotton, yarn, and textile machinery production, along with preferential treatment under the ASEAN-India Free Trade Agreement (AIFTA), can serve as a key strategic trade partner of Vietnam, in alignment with the comprehensive strategic partnership between the two countries.
Strengthening trade ties could help Vietnam reduce dependence while saving input costs by 22-27%, according to Mr. Thuong. Conversely, Vietnam can meet India’s rising demand for high-quality polyester fabrics, with an estimated $1.2 billion market annually, he added.
From the Indian perspective, Mr. Shri Rakesh Mehra, Chairman of the Confederation of Indian Textile Industry (CITI), noted that India’s textile and garment industry—valued at $170 billion, with $37 billion in exports in 2024—operates under a closed value chain, spanning yarn to finished products.
He emphasized that Vietnam is an ideal partner to help develop a high-value and adaptable supply chain, especially amid the post-pandemic global supply chain restructuring and ongoing trade conflicts.
Meanwhile, Mr. Rajesh Bhagat, Chairman of Worldex India, a trade fair organizer, encouraged Vietnamese and Indian businesses to enhance their presence at specialized exhibitions, fostering direct connections, contract agreements, and expanded cooperation in machinery, technology, and supply chain development.
