April 17, 2024
Industry

Exports Of Indian MMF Textile Products To Leap By 2030

Manmade fibre (MMF) textile product exports from India are projected to leap due to the PLA scheme as well as the free trade agreements (FTA’s) signed with Australia and the UAE.

Exports of MMF textile products are forecast to leap by a significant 75 percent to US $11.4 billion from $6.5 billion in fiscal 2022.

India follows China in the manufacturing of MMF and the boost is expected to come from various technical textile products as well as home textiles

“Presently MMF textile products make up for 72 percent of textile products sold worldwide, with the rest accounted for by natural fibre products like cotton,” a senior official of an association said.

The exports will increase by strengthening and expanding overseas shipments to various countries like UK, US, Turkey, Brazil, etc.

The strategy to achieve the $11.4 billion export revenue by increasing manufacturing capacity of MMF made knitted and woven fabrics.

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