Vietnam eyes India as a partner to increase polyester fabric exports worth $1.2 billion

Vietnam is positioning itself to meet India’s growing demand for premium polyester fabric, tapping into an estimated annual market worth $1.2 billion. According to Bui Trung Thuong, Commercial Counsellor and Head of the Vietnam Trade Office in India, the two countries have a lot of potential to deepen cooperation in textiles and apparel.

Speaking at an online seminar on Vietnam-India textile collaboration, Thuong highlighted Vietnam’s strong production base with over three million workers and its status as the world’s third-largest textile exporter. However, he noted the country remains heavily reliant on Chinese imports.

Thuong proposed India’s strength in cotton, yarn, and textile machinery, combined with the ASEAN-India Free Trade Agreement (AIFTA), presents a strategic opportunity for Vietnam to diversify its supply chain and reduce input costs by up to 27 per cent.

Rakesh Mehra, Chairman, Confederation of Indian Textile Industry (CITI), backed the initiative, as a step towards resolving trade disputes and building a resilient supply chain. Rajesh Bhagat, Chairman, Worldex India, urged both countries to increase participation in textile exhibitions to boost partnerships, technology transfer, and contract agreements further advancing bilateral textile trade and manufacturing integration.