India Seeks To Attract Vietnamese Leather And Footwear Investors To Invest

India Leatherwear Rafeeque Ahmed, chairman of the Export Council, said that India is demanding leather from Vietnam. footwear Enterprises explore business opportunities and set up shop opportunities in India. The canal said that under the high standard of "Make in India", the India government is paying more attention to the development of leather and footwear industry in India. Therefore, it is the best time for Vietnamese enterprises to set up stores in order to cater for the needs of India's market and export market. "in The Vietnamese leather and footwear enterprises should not lose as big as India, the canal said. market The footwear market in India has an annual opportunity of 6 billion 500 million US dollars and is expected to reach US $12 billion by 2020.

India is the second largest footwear manufacturer in the world, with 2 billion 200 million pairs each year, 95% of which are domestic consumption, and India has many suppliers of high quality leather, with a large number of young people, skilled labor and competitive prices. In addition, India cattle account for 21% of the world's total, and the tanning leather made in India accounts for 10% of the world's demand.

According to Vietnam leather and footwear enterprises, Vietnam leather and footwear enterprises did not invest in India, and the canal said India labor costs were more reasonable, and the India government boasted of abundant supply materials. Diep Thanh Kiet, vice chairman of Vietnam leather and Footwear Association (LEFASO), said that the production of leather and footwear enterprises in Vietnam was mainly for export, while exports (about 2015) were about 850 million pairs. However, Vietnamese tableland materials were in short supply, especially leather. Last year, 1 billion 200 million dollars of leather was imported from South Korea, Thailand and Mainland China. The canal said that although India had been able to fully supply raw materials and its prices were reasonable, Vietnamese enterprises were concerned about the high spanport costs, because ships to India need to be spanshipped to Singapore.

India's ambassador to Vietnam Parvathaneni Harish said that bilateral trade between India and Vietnam reached $7 billion last year, and will double to 1 billion 500 million dollars by 2020. Leather and footwear will help them achieve their goals. The India government has indicated that it will provide investors with investment incentives, especially leather and footwear in Vietnam, which are regarded as one of the key industries in India.