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Building on the cooperation achieved so far between the two countries, the Indian leather sector has invited Vietnamese footwear manufacturers to develop partnerships and take advantage of India’s potential by establishing independent units in the country during a meeting held at the 18th International Shoe & Leather Exhibition in Ho Chi Minh City, Vietnam.
The meeting held on July 14 was part of a visit to Vietnam by a delegation which included 41 Indian leather producers.
“Vietnamese and Indian companies can work together towards enhancing the international competitiveness of our respective sectors in terms of productivity, design, and best practice manufacturing,” said Rafeeque Ahmed, Chairman, Council for Leather Exports (CLE), India, during his speech. “Now is the right time for Vietnamese companies to invest in manufacturing facilities in India that cater to the large domestic Indian market and for export”, he added.
During the meeting, Ahmed also highlighted the cooperation achieved so far between both countries, including the commitment of India’s Central Leather Research Institute and the Vietnamese Leather and Shoe Research Institute to work together with a focus on cleaner technology options, and improved effluent treatment technology.
According to Ahmed, Vietnamese footwear producers should not to miss the opportunity offered by India's domestic footwear market, which is estimated to be worth around US$6.5 billion and hoped will hit US$12 billion by 2020.
“We invite Vietnamese companies to India to partner with us or set up independent production units and take advantage of the many opportunities in our country,” said Ahmed.
India’s exports of leather and leather products to Vietnam are said to have more than doubled between 2009 and 2015, from US$40.7 million to US$117.1 million. In the April-December 2015 period alone, it peaked at U$84.6 million.
Source: Tuoitre news