India Textile Company Hopes To Invest In Textile Industry In Vietnam

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

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

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

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."