Bui Trung Thuong, Commercial Counselor and Head of the Vietnam Trade Office in India signalled how Vietnam is well-positioned to meet India’s high-quality polyester fabric demand and highlighted a potential collaboration in the textile and garment industries.
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Vietnam is emerging as a major beneficiary of global supply chain realignment, with a 25.7 per cent year-over-year export surge in February. Strong performance in textiles, garments, and footwear positions the country for growth, though concerns over market concentration, technological dependence, and compliance hurdles persist.
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As the US suspends tariffs temporarily, Vietnam's textile and apparel sector is being urged to strengthen domestic raw material sourcing. Despite being home to 3,800 textile firms, the country heavily depends on imports for cotton and fabric, underlining the need for policy support and infrastructure to localize production.
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Greater tariffs would compel Nike, one of numerous sportswear companies that rely significantly on Vietnam as a production location, to incur greater expenses or raise prices.
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Vietnam was the largest manufacturer of footwear, accounting for 39 per cent of total production, followed by Indonesia (32 per cent), and China (14 per cent).
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With approximately 7,000 companies, Vietnam's textile sector dedicates 80 per cent of its production to exports, supported by a robust logistics network, skilled workforce, and stable political environment.
