Many Vietnamese products hold potential for being exported to India, including blue dragon fruits and tra fish. (Photo: congthuong.vn)
So confirmed Bui Trung Thuong, Head of Vietnam's Trade Mission in India, during a recent talk with the press.
According to Mr. Thuong, recently, the Vietnam Trade Office in India has carried out many activities to support businesses, including looking for raw materials to produce masks; and raw materials and fuel for the textile and footwear industry. In particular, with India’s great demand for COVID-19 rapid test kits and protective equipment, the office also quickly connected with domestic enterprises, including the connection of Viet A Technological Company with Indian partners for exporting test kits to India.
Since Vietnam basically controlled the disease, the office supported Vietnamese enterprises in taking advantage of opportunities to boost exports. It has regularly discussed with the Indian Chamber of Commerce and Industry about trade promotion programs during and after COVID-19, with the online trade exchange meeting on the subject “Vietnam - India trade promotion: Opportunities and Challenges post-COVID-19”, jointly held by the two sides on April 28th.
Regarding supply of materials for Vietnamese businesses’ production, especially in the textile and garment, and footwear industries, Mr. Thuong said that the two industries are India's advantages. Currently, the total size of the Indian textile and garment industry is about USD140 billion, including USD100 billion for domestic market and USD40 billion for export markets, which will bring many opportunities for Vietnam's textile and garment industry. Meanwhile, the overall scale of Vietnam's textile and garment industry is about USD45 billion. Therefore, there will be opportunities for Vietnamese businesses to import textile and garment materials and accessories such as cotton, yarn, ready-made garments and fabrics.
Meanwhile, footwear is a sector with steady growth and a significant foreign exchange earner for India. In particular, it has an abundance of raw materials, skilled workers and advanced technology for industry development.
India is also an attractive market for Vietnamese textile, garment and footwear businesses, through which they can improve Vietnamese goods’ competitiveness in the international market.
Talking about trade exchange prospects between the two countries, Mr. Thuong confirmed that positive changes had been made in the goods structure of trade exchange. “Previously, raw materials for agriculture, husbandry, pharmaceuticals and chemicals accounted for a large proportion of the two-way total trade value, the current structure of goods in trade exchange is very diverse, from agricultural products to mechanical - manufacturing products, machinery and equipment to high value items such as electronics and mobile phones,” he said. “In addition, many labor-intensive items such as materials for the textile and garment, footwear and handicrafts industries have begun to be exchanged./.