India, Vietnam eye leather business co-operation
An Indian delegation comprising executives from six major leather companies that supply the footwear, furniture and automotive industries met around 20 Vietnamese counterparts in HCM City on June 9 to explore business opportunities.
Speaking to the media on the sidelines of the event, D Gokulakrishnan, officer on special duty for the Council for Leather Exports of India, said Vietnam was one of the world's largest footwear exporters while India was also one of the world leading exporters of leather, leather products and footwear.
"Vietnam and India can co-operate in many areas: for instance, Vietnamese companies can come to India to procure leather, leather upholstery, finished leather for shoes, and footwear components.
"On the other hand, Indian footwear companies can come here to establish their units and tap the huge market potential here because Vietnam is going to sign agreements like the TPP and an FTA with the EU."
Tran Doan Dong, director of Dong Thinh Shoes Joint Stock Company, said he came to the event to source good leather to make shoes for export.
Gokulakrishnan said India's leather exports to Vietnam remained modest because of certain issues like transportation.
But with frequent exchanges between the two countries, the bilateral leather trade was expected to increase by at least five to six times in the years to come, he said.
The event was organised by the Vietnam Chamber of Commerce and Industry's HCM City office and the Council for Leather Exports of India.