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    India Textile Company Hopes To Invest In Textile Industry In Vietnam

    2011/7/5 15:31:00 58

    Raw Materials Of India Textile And Textile Industry

    A delegation of India cotton producers and exporters, led by the India Cotton Textile Export Promotion Council (Texprocil), met with senior executives of Vietnamese companies in Hu Zhiming yesterday to seek trade and investment opportunities.


    Vo Tan Thanh, Hu Zhiming, director of Commerce and industry in Vietnam, said that despite its difficulties, its clothing and textile industry still achieved good results in the first half of the year.

    During that period, its export revenue exceeded US $6 billion 160 million, an increase of 30% over the same period last year.

    The Department expects this year's clothing and

    textile

    Export revenue is about $13 billion 200 million to $13 billion 500 million, exceeding the annual target of $13 billion.


    However, to achieve this goal, Thanh said that the textile and garment sector must import from other countries.

    Raw material

    It includes a lot of cotton because local resources are unable to meet demand.


    Texprocil chairman Amit Ruparelia said: "Vietnam has become a major exporter of clothing, and Vietnam has long sought for high-quality products.

    Cotton textiles

    It includes cotton yarn and cotton cloth.

    He said that as one of the world's leading suppliers of textiles and clothing, India enterprises can provide Vietnamese counterparts with any raw materials for the production of textiles and clothing.


    Since 2009, Vietnam has doubled the import of cotton textiles from India. Last year, Vietnam imported 50 million dollars of cotton textiles from India.

    Abhay Thakur, Consul General of India, Hu Zhiming, said that trade between Vietnam and India has risen sharply in recent years.


    Last year, it increased by more than 34% over 2009, reaching US $2 billion 750 million.

    In the first four months of this year, it reached US $1 billion 260 million and could reach US $4 billion by the end of this year.

    He said: "Texprocil visited Vietnam not to compete with Vietnam's industry, but to coordinate with Vietnam's industry, so that the competitive advantage between the two countries is a mutually beneficial opportunity for the two countries."

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