25 Indian companies join in the exhibition, seeking opportunities to co-operate with Vietnamese companies. — VNA/VNS Photo

HCM CITY (Biz Hub) — The Indian Synthetic and Rayon Textiles Export Promotion Council (SRTEPC) last week announced a tie-up with lingerie maker Anh Khoa Production and Trading Company Ltd.

A memorandum of understanding was signed on the occasion of a visit by Smita Pant, the Indian consul in HCM City, to the Sai Gon Fabric and Garment Accessories Expo (Saigon Tex) which ended in the city on Sunday.

Under the deal, Anh Khoa will import materials from SRTEPC members.

Ngo Ngoc Hoa, CEO of Anh Khoa, told bizhub.vn that initially his company would buy feedstock from India and the co-operation would later be expanded to other fields.

With Indian companies participating for the first time, Saigon Tex offered them an opportunity to look for partners in Viet Nam at a time when India plans to invest US$300 million in the Vietnamese garment and textile industry as committed by its Government during Prime Minister Nguyen Tan Dung's visit last year.

After Dung's visit, there have been a slew of Indian delegations visiting Viet Nam to strengthen the collaboration.

Viet Nam imported more than $440 million worth of textile products from India in the financial year ending March 2014, with the main items being polyester viscose and synthetic fabrics, polyester wool fabric, and polyester filament yarn. — VNS