Indian material sources generate growing interest
Indian material sources generate growing interest
Local textile and clothing businesses are revealing a growing appetite for Indian material sources.
Executives at a number of major players in the textile sector, such as Vinh Phu Textile (Vifutex), Dong Xuan Knitwear, and Phu Bai Fibre have just completed market surveys in India hoping to find potential material suppliers.
Aside from sourcing suppliers, many firms have also considered stitching-up deals with Indian counterparts to secure the rights to material production at home in Vietnam.
According to Dong Xuan Knitwear deputy general director Pham Ngoc Diep, India is home to sizable private businesses producing textile and garment materials and accessories that serve the diverse demands of customers, and teaming up with Indian partners in building material production plants in both countries would be a smart move.
“Going in this direction is feasible, as Vietnam is a world leader in textile and garment exports and India has a textile and garment production value of $100 billion every year. Boosting co-operation in material production could be a strong move, and if so, the sooner the better,” Diep said.
A major textile and garment producer, India has huge advantages in fibres and textiles, annually supplying world markets with more than 25 per cent of cotton and material demand.
Vietnam however only sources 3 per cent of its sector’s materials from India.
In a bid to increase this figure, the Indian general consulate in Ho Chi Minh City recently hosted an event to kick-off the “Made in India” campaign, that is aimed at turning the country into a major textile and garment materials and accessories production and supply venue worldwide.
Through field market surveys in India, Bui Phuong Ngoc, director of Vifutex realised that India had significant strengths in the textile dyeing and cloth finishing phase.
“Our company is currently in negotiations with some Indian partners to make joint investments and transfer advanced dyeing technologies to Vietnam,” Ngoc said.
Leading Indian textile groups such as SRF, Supreme Nonwovens, Century Enka, Techfab India and Pacific Non Woven are searching for Vietnamese partnerships.
Phu Bai Fibre, which has seven affiliates and a supply capacity of 32,400 tonnes of fibre a year, is scaling up efforts to find Indian partners to push up production and enhance competitiveness.
According to the company’s general director Bui Nguyen Tien, Phu Bai is good at making fibres and the Indian side has advanced dyeing technology, so forming joint ventures at Vietnamese specialised industrial zones would be beneficial to both sides.
“We expect to reach co-operative deals with Indian partners in this field, as it is a current bottleneck in Vietnam’s textile and clothing industry,” Tien said.
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