As a part of our ongoing trade promotional activities, the Embassy of India and the Consulate General of India in collaboration with the Cotton Textiles Export Promotion Council (TEXPROCIL), the Vietnam Textile and Apparel Association (VITAS) and the Vietnam Association of Foreign Invested Enterprises (VAFIE) organized an India-Vietnam Virtual Buyer Seller Meet (VBSM) on Trade and Investment in Textile sector on 23 November 2021. The event was attended by more than 50 companies from India and Vietnam.
2. In his opening remarks, Ambassador Pranay Verma underscored importance of textile sector in the bilateral trade cooperation between India and Vietnam and the need for forming new partnerships, exploring new supply chains, and addressing logistical and market access difficulties in order to scale up textile trade between India and Vietnam. While pointing out the gap between India’s global capabilities for supplying high quality input materials such as cotton, yarn, fabrics and the level of import of these materials by Vietnam, Ambassador Verma urged companies to assess the capabilities and requirements in both markets in order to exploit the untapped potential available in this sector.
3. Leaders of TEXPROCIL presented India as an attractive alternative source for high quality raw materials for Vietnam and informed about various trade facilitation measures, especially the launch of “B2B Market Place” portal to interact with Indian suppliers of yarns, fabrics and home textiles. Chairman of Vietnam Textile and Apparel Association (VITAS) highlighted areas where Indian companies could enter Vietnamese market such as high-tech spinning, human resource development in dying, export of all kinds of cotton, sharing experience and training in managerial skills, investment from India in textile sector of Vietnam. Vice Chairman of the Vietnam Association of Foreign Invested Enterprises offered its services to guide Indian investors wishing to invest in Vietnam’s textile sector. Dr. Madan Mohan Sethi, Consul General of India in Ho Chi Minh City, reiterated assurance for all assistance in organizing regular B2B interactions, exhibitions, exchanges of business delegations etc. in the textile sector.
4. The event included B2B interactions where 22 Indian textile exporters showcased their profiles to more than 60 Vietnamese companies. The VBSM concluded with an interactive Q&A session between the participating companies.
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