In a move to boost the local garment and textile industry, India is planning to set up an industrial park worth US $ 300 million near the southern Vietnamese economic hub of Ho Chi Minh City. The park will also be accommodating manufacturers who produce large orders for export to Vietnam in the fields such as furniture, etc.
The import of such products and textiles (which are imported from India in large amounts) faces challenges like complicated payment process and time-consuming shipping process, the setting up of this industrial park will help facilitate the reach in the Vietnamese market for Indian exporters.
