Vietnamese garments-textiles promoted in India
|India International Garment Fair (IIGF) is the biggest of its kind in the South Asian country. Photo: Vietnam Trade Office in India|
Their participation aims at studying the market and new consumption demand, and connecting with potential partners, according to the World & Vietnam Report.
Beginning in Uttar Pradesh state on June 20, the event is hosting about 350 exhibitors to introduce the latest collections that are popular around the world.
The India International Garment Fair is an ultimate buyer-seller platform to meet the sourcing requirements of apparel and fashion accessories.
Due to the impact of the Covid-19 pandemic, its last two editions were held online. Both the events were appreciated by the participants and were aimed at helping exporters from India to showcase their latest designs in the apparel & accessories domain.
|Sixteen Vietnamese firms are participating in the fair. Photo: VNA|
Importers from all across the world are invited to participate in this year’s event. Every year, buyers from entire global countries visit the fair and do the business worth millions of US dollars, organisers said.
Vu Duc Giang, Chairman of the Vietnam Textile and Apparel Association, said Vietnam’s garment-textile exports in the first six months of this year were estimated at $22 billion, up 23% year-on-year.
He attributed the results to the utilisation of free trade agreements, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) that has boosted the domestic industry over the past five years with its regulations on product origin.
|Vietnam’s garment-textile exports in the first six months of this year were estimated at $22 billion, up 23% year-on-year.. Photo cafef.vn|
Vietnam has emerged from a yarn importer to exporter, shipping abroad $5.6 billion worth of yarn last year, and some $3 billion in the first half of this year, he continued, noting that the shift was thanks to investments in technology and digital management.
The sector has also shifted towards green energy and water resources, thus better meeting international standards and winning confidence of customers, Giang said, as cited by VietnamPlus.
He, however, said escalating inflation in the US and Europe would affect orders in the third and fourth quarters of the year. Meanwhile, the ongoing Russia-Ukraine conflict, along with surging oil and gas prices and transportation costs, would push up production prices./.
Vietnam and India have agreed to enhance physical and digital connectivity, and promote tourism and people-to-people exchanges.
The Vietnam Academy of Social Sciences and the Indians Council on World Affairs jointly organized the third annual dialogue on May 26
Nguyen Phu Trong, General Secretary of Vietnam had a phone call with Indian Prime Minister Shri Narendra Modi.