Apparel Online India Magazine April 1st Issue 2019 | Page 19

TEX-FILE
India has been urging the garment and textile companies in
Vietnam to actively participate in Indian fairs and exhibitions
as well and thereby help in strengthening the business
relations between both the countries.
future.” He also added that India
has been urging the garment and
textile companies in Vietnam to
actively participate in Indian fairs
and exhibitions as well and thereby
help in strengthening the business
relations between both the countries.
Kamal Mangwani, Vice General
Director, Premco Global Vietnam.
Since last four decades, Premco has
been manufacturing high quality
knitted and woven elastics.
Sharing the same thoughts, Anil
Rajvanshi, Chairman, Synthetic and
Rayon Textiles Export Promotion
Council of India averred, “India is
strong in manufacturing and exporting
textile products from synthetic yarn,
a material fabric that is being used
widely in the world garment industry
with high expansion prospects in the
Nguyen Thi Tuyet Mai, Deputy General Secretary,
Vietnam Textile and Apparel Association (VITAS)
Last year, it was pleasing to see
the enterprising participation of
Vietnamese garment and textile
companies in the India International
Silk Fair (IISF) in New Delhi. There
were over 20 textile establishments
at the event from Vietnam. Similarly,
Indian apparel and textile firms have
also been regularly participating in
SaigonTex show with the intent of
exploring investment opportunities.
It is clear that both the nations
are now keen to take the textile
trade relations much further. It is
important to note here that India
exported garments worth US $ 429
million to Vietnam in 2017, which
is an increase of astounding 44
per cent from what it was in 2016.
Vietnam, on the other hand, exported
US $ 178 million worth apparels to
India in 2017.
Despite being one of the top five
garment exporters in the world,
Vietnam also has the distinction
of importing the highest amount of
garment and textile materials in
the world. Nguyen Thi Tuyet Mai,
Deputy General Secretary, Vietnam
Textile and Apparel Association
(VITAS), corroborated that while
Vietnam will gain from India with
regard to the latest technology and
more textile materials and products,
India too can expand its market.
She also appreciated the quality of
Indian fabric. Lot of business firms
in Vietnam urged the Government of
both the countries to sign bilateral
free trade agreement, which in turn
will help in cutting taxes for goods of
each other.
Considering the pace and
consistency at which the textile
trade relations have grown between
both Vietnam and India in 2018, it
will not be a surprise to see both the
countries give a new dimension to
their relations in 2019.
Ramco Group to set
up a new facility
for yarn dyeing and
weaving
Ramco Fabrics, a division of Rajapalayam Mills Ltd. and
part of Ramco Group, has announced to set up a yarn dyeing
and weaving plant in Rajapalayam in Tamil Nadu in order to
produce dyed Greige Fabric. P. R. Venketrama Raja, Chairman,
Ramco Group, stated that, “As part of the forward integration
plan, we are setting up this new unit and it will be operational
by the second quarter of 2019-20.”
The new unit requires an investment of Rs. 250 crore and
will have an initial production capacity of 10 million metres
of Greige yarn dyed fabrics per annum. In addition to this,
the new facility will also cater to fibre dyeing needs of
Ramco Melange products. A.V. Dharmakrishnan, Director,
Rajapalayam Mills, said, “There was a need for a new unit
since many of our customers used to buy high count yarn
from us and give it for weaving. Instead they requested us
to provide value-added products to them so that they can
get woven yarn of consistently good quality. For Ramco it is
a value-added step towards forward integration and for the
customers, they get consistent quality of weaved yarn.”
Far-sighted policies
helping Pakistan's
textile industry
The textile industry in Pakistan is gaining momentum owing
to some far-sighted policies initiated by the Government of
Pakistan. This was announced by Abdul Razak Dawood,
Adviser to Prime Minister on Commerce, Textile, and
Investment, while addressing the Senate Standing Committee
on Commerce and Textile, recently. He expressed optimism
that the textile sector would play an important role in
achieving and surpassing the overall export target of
US $ 25 billion by the end of present fiscal year. In a recently
concluded meeting with industry stakeholders, Abdul Razak
assured them the complete support of the Government if the
industry upgraded in all aspects.
The industry is expected to witness further boom once
China starts importing textile products from Pakistan.
More on the same, the adviser said that China’s assurance
of importing products worth US $ 1 billion from Pakistan
was excluded from the free trade agreement and, therefore,
would be exempted from duties. He also added that under the
agreement, China would import 3,50,000 tonnes of cotton yarn
from Pakistan.
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