Vietnam and India have great potential for cooperation in the garment and textile sector as the US's new reciprocal tax policy could significantly impact exports of both countries to the US market, according to Bui Trung Thuong, Trade Counselor at the Vietnam Trade Office in India.

Vietnam has set an ambitious target of earning US$48 billion in export revenue for the textile and garment industry this year, according to the Vietnam Textile and Apparel Association (VITAS) - and industry insiders hope that sustainable fashion will help the sector achieve its goal.

VOV.VN - Eight items posted export turnover in excess of US$10 billion each in 2024, accounting for 69% of Vietnam’s total export turnover, according to the General Statistics Office.

VOV.VN - The past 11 months of the year witnessed seven Vietnamese commodities rake in more than US$10 billion each in export earnings, accounting for 66.5% of the country’s total export value.

Vietnam’s textile and garment industry aims to achieve US$47–48 billion in export turnover in 2025, according to Vu Duc Giang, Chairman of the Vietnam Textile and Apparel Association (VITAS).

VOV.VN - Despite ongoing challenges, Vietnamese garment makers are optimistic about the coming year-end shopping season, seeing it as an opportunity to meet the export earnings target this year.

VOV.VN - Vietnam earned US$4.29 billion from exporting textile and garment products in July alone, marking the first month this year in which the sector’s exports have reached over US$4 billion, the highest figure since August, 2022.

VOV.VN - With export earnings of more than US$16 billion, garments and textiles are one of the leading industries for export turnover in the nation, with most firms securing signed export orders by the end of the fourth quarter of this year and even until the first quarter of next year.

Five pilot projects on green technology for Vietnamese textile and garment exporters went on show at the ‘For a Sustainable Garment and Textile Industry in Vietnam’ show held in Hanoi on June 17.

VOV.VN - Vietnamese garment exports to Australia have kept rising over the past months, though Australia is reducing garment imports from suppliers.