ITAMMA to set up technology centre in Ho Chi Minh

Indian Textile Accessories and Machinery Manufacturers Association (ITAMMA) plans to set up a textiles-garment technology centre in Ho Chi Minh City to introduce machines, equipment and provide after-sale services to Vietnamese customers. It will also serve as a venue for the two countries’ businesses to exchange and update on the latest technologies.

Vietnam is a potential market to which Indian businesses are seeking opportunities to boost export of textile machines and equipment, said N D Mhatre, director general (technical) of ITAMMA.
As one of the world’s leading textiles and garment exporters, Vietnam has a growing demand for machinery and equipment, thereby creating big opportunities for Indian firms, Mhatre said at a Vietnam-Indian business exchange programme co-held by ITAMMA and the Consulate General of India in HCM City on July 20.

Mhatre noted that India’s export turnover of textiles-garment machinery and equipment had surpassed $ 400 million in 2016, but its earnings from Vietnam reached only $400,000.
Therefore, Indian enterprises wish to boost trade and business networking in the garment and textiles sector with Vietnam, he added.

Indian businesses have opportunities to supply machines and equipment with affordable prices to the Vietnamese market as machines imported from Europe have high prices, participants said.

Nguyen Thi Tuyet Mai, vice general secretary of the Vietnam Textile and Apparel Association (VITAS), said that India was an important trade partner of Vietnam in the field of garment-textiles and machinery and Vietnam was a potential market for Indian businesses.

Indian firms should work with Vietnamese fabric and textile factories to create material supply chains in Vietnam, bringing long-term benefits to both sides, she added.