Vietnam, India firms sign $2 bn deal for Hanoi highway project
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Our partnership with Vietnam and japan has nothing to do with China. Believe that.
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India to set up $300m Vietnam textile park
India is looking at the possibility of setting up a textile park in Vietnam in a move that could boost trade and investment in man-made fibres and fabric between the two countries.
India's Prime Minister earlier this year offered a US$300mline of credit to Vietnam to buy material and textile machinery, but Indian companies are also studying the potential of setting up processing units in Vietnam.
The Synthetic and Rayon Textiles Export Promotion Council of India (SRTEPC) is calling for feedback from its members before putting together a draft proposal on the idea.
Vietnam’s textile sector has been growing rapidly, buoyed by potential opportunities from the Trans-Pacific Partnership (TPP) agreement, currently being negotiated between 12 countries including the US and Canada. As a result, "the growth in textiles could manifold", SRTEPC said.
During a visit of Vietnam’s Prime Minister to India in October last year, the two countries agreed on deeper engagement between India and Vietnam, particularly in the textile sector.
"This strategic approach could improve the market access and integrate our textile sector in the global supply chains," the SRTEPC noted. "The Secretary suggested that the industry and the Exim Bank should discuss and come out with a map to implement the initiative suggested by the Ambassador in pursuing investment in textile investment parks."
A potential park would likely be located near the southern Vietnamese economic hub of Ho Chi Minh City. While Vietnam is one of the leading sourcing countries for apparel, it is dependent on other nations – particularly China – for textile input.
According to Vietnamese publication Tuoitre News, the Southeast Asian country imported more than $440m worth of textile products from India during the financial year ending March 2014, with the main items being polyester viscose and synthetic fabric, polyester wool fabric, and polyester filament yarn.
India is looking at the possibility of setting up a textile park in Vietnam in a move that could boost trade and investment in man-made fibres and fabric between the two countries.
India's Prime Minister earlier this year offered a US$300mline of credit to Vietnam to buy material and textile machinery, but Indian companies are also studying the potential of setting up processing units in Vietnam.
The Synthetic and Rayon Textiles Export Promotion Council of India (SRTEPC) is calling for feedback from its members before putting together a draft proposal on the idea.
Vietnam’s textile sector has been growing rapidly, buoyed by potential opportunities from the Trans-Pacific Partnership (TPP) agreement, currently being negotiated between 12 countries including the US and Canada. As a result, "the growth in textiles could manifold", SRTEPC said.
During a visit of Vietnam’s Prime Minister to India in October last year, the two countries agreed on deeper engagement between India and Vietnam, particularly in the textile sector.
"This strategic approach could improve the market access and integrate our textile sector in the global supply chains," the SRTEPC noted. "The Secretary suggested that the industry and the Exim Bank should discuss and come out with a map to implement the initiative suggested by the Ambassador in pursuing investment in textile investment parks."
A potential park would likely be located near the southern Vietnamese economic hub of Ho Chi Minh City. While Vietnam is one of the leading sourcing countries for apparel, it is dependent on other nations – particularly China – for textile input.
According to Vietnamese publication Tuoitre News, the Southeast Asian country imported more than $440m worth of textile products from India during the financial year ending March 2014, with the main items being polyester viscose and synthetic fabric, polyester wool fabric, and polyester filament yarn.
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