India’s textile industry is poised for a significant uptick in manufactured fibre (MMF) textile exports, expected to surge by 75 per cent to US $ 11.4 billion by 2030, a marked rise from US $ 6.5 billion in 2021-22. The boost is attributed to the strategic implementation of the Production Linked Incentive (PLI) scheme and fortified trade pacts with the UAE and Australia, as per reports.
Ranked second globally in MMF production, India eyes the expansion of its exports in products like curtains, drapes, interior blinds, and other synthetic fibre-based commodities, identified as key drivers for this exponential growth by economic experts.
A Government official emphasised the burgeoning potential of technical textiles, hailing it as the industry’s future. Bolstered by ambitious objectives, the sector is poised for expansion.
Currently constituting 72 per cent of global textile fibre usage, MMF has outpaced natural fibres owing to its inherent advantages. With a keen eye on new markets like Vietnam, Japan, China, and Poland, India aims to consolidate its presence, amplifying exports to countries like the United States, Turkey, the United Kingdom, and Brazil, where it presently holds a 5 per cent share in MMF textile exports.
The blueprint further encompasses enhancing the production capacity of filament-based woven and knitted fabrics, streamlining the processing of man-made filament yarn-based fabrics.
Bhadresh Dodhia, chairman of the Synthetic & Rayon Textiles Export Promotion Council, highlighted the virtues of manmade fibre textiles, citing their environmental friendliness, cost-effectiveness, and scope for substantial value addition. He emphasized their efficient water usage compared to cotton textiles, positioning them as a sustainable alternative.
