According to China News Service, India is seeking to export more textile and clothing raw materials to Vietnam.
According to the latest reports from Vietnamese media, at the recent Vietnam-India Textile and Apparel Trade Exchange Conference jointly organized by Vietnamese officials and the Indian Cotton Export Promotion Council, officials from the Indian Cotton Export Promotion Council stated that the Vietnamese textile and apparel industry has a large demand for fabrics. India is “the most competitive” in the production and supply of clothing fabrics.
Due to weak independent design capabilities, Vietnamese textile companies are currently mainly engaged in product processing. Since 2013, Vietnam’s textile exports have begun to grow rapidly, but textile raw materials are highly dependent on imports.
India wants to strengthen exports of textile raw materials to Vietnam. In addition to the huge market potential of Vietnam, it is also eager to get rid of its own cotton textile export difficulties. According to Indian media reports, due to declining demand from China, India’s cotton yarn exports dropped significantly by about 20% in the first quarter of this fiscal year (April-June 2014).
