In order to enjoy the benefits of the EVFTA agreement, India strengthens its investment in the textile industry in Vietnam

The textile industry is the industry that enjoys the most preferential treatment under the Vietnam-EU Free Trade Agreement (EVFTA), but businesses must comply with the rules of origin to enjoy the above-mentioned preferential tariffs. India is an advantageous market in the production of fabrics, textiles and dyeing and finishing industries.

The EVFTA agreement will help Indian manufacturers strengthen investment and establishment of factories in Vietnam. India’s fiber and fabric textile industry is quite developed and can supply all kinds of raw materials and fabrics for garments. It is one of the three largest suppliers of textile and garment products in the world.

As Vietnam plans to strengthen production and promote exports, India can become a source of excellent quality fabrics and fibers for Vietnam. In order to enjoy the benefits of the EVFTA agreement, the origin of Vietnamese textile fabrics must be Vietnam, and Indian manufacturers will increase investment in fabric production, textile and dyeing industries in Vietnam.

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