India strengthens textile trade with Vietnam as exports outpace import

India’s textile exports to Vietnam amounted to $404.446 million in the first 11 months of 2024, compared to $327.282 million in 2023 and $333.884 million in 2022. Trade data suggests that India’s yarn exports have increased over the past three years. The shipment was valued at $118.367 million in 2022, rising to $151.578 million in 2023, and reaching $173.408 million in January–November 2024. Yarn exports accounted for 42.88 per cent of total textile exports in the first 11 months of 2024, compared to 35.45 per cent in 2022 and 46.31 per cent in 2023, according to Fibre2Fashion's market insight tool TexPro.

During January–November 2024, India exported fibre worth $163.719 million (40.48per cent) and fabric worth $67.319 million (16.63per cent) to Vietnam. Fibre exports amounted to $104.505 million (31.93per cent) and fabric exports to $71.198 million (21.75per cent) in 2023, while fibre exports stood at $137.589 million (41.45per cent) and fabric exports at $77.928 million (23.34per cent) in 2022.

India’s textile imports from Vietnam were valued at $212.760 million in January–November 2024, compared to $247.306 million in 2023 and $302.204 million in 2022. Fibre remained the dominant imported textile product over the past three years. India imported fibre worth $79.866 million in January–November 2024, accounting for 37.54 per cent of total textile imports. Fibre imports were valued at $97.143 million (39.28per cent) in 2023 and $112.320 million (37.17per cent) in 2022, as per TexPro.

India’s imports of fabric were valued at $76.984 million (36.18per cent) and yarn at $55.908 million (26.28per cent) in the first 11 months of 2024. Fabric imports were worth $75.865 million (30.68per cent) and yarn imports $74.298 million (30.04per cent) in 2023, while fabric imports stood at $106.976 million (35.40per cent) and yarn imports at $82.907 million (27.43per cent) in 2022.

ALCHEMPro News Desk (KUL)