April 17, 2024

India Eyes 75% Jump In MMF Textile Exports To US$ 11.4 Bn By 2030

The Indian textile industry expects India’s exports of man-made fibre (MMF) textiles to increase by 75% to reach US$ 11.4 billion in 2030, up from approximately US$ 6.5 billion in 2021-22. This growth is attributed to the Production Linked Incentive (PLI) scheme and Free Trade Agreements with the UAE and Australia.

As the world’s second-largest producer of MMF after China, India is poised for growth, particularly in products such as curtains, drapes, interior blinds, curtain or bed valances of synthetic fibres, tents of synthetic fibres and tarpaulins.

A government official emphasized that the technical textiles sector is a sunrise industry and holds the future for the overall textile industry. The ambitious targets set for the sector are aimed at capitalizing on its potential. Currently, MMF accounts for 72% of global textile fibre consumption, while natural fibres make up the remaining 28%.

Due to the limitations of cotton and other natural fibres, the share of MMF has been steadily increasing. The industry’s strategy involves expanding into new markets like Vietnam, Japan, China and Poland, as well as strengthening presence in existing markets such as United States, Turkey, United Kingdom and Brazil, where India holds about 5% of MMF textile exports. Plans also include increasing the capacity of filament braided (BRD) woven and knitted fabrics, along with processing of man-made filament yarn BRD fabrics, as outlined by the Synthetic & Rayon Textiles Export Promotion Council (SRTEPC).

Bhadresh Dodhia, the head of SRTEPC, highlighted the environmental friendliness and sustainability of man-made fibre textiles, citing their lower water requirements compared to cotton textiles and their cost-effectiveness. He emphasized that technical textiles, primarily made of MMF, are expected to see increased use due to changing lifestyles and growing concerns about safety and health.

India has maintained a consistent 3.4% share in the global MMF textile trade from 2016 to 2021. However, challenges arise from countries like Bangladesh, Turkey, Cambodia, Vietnam, Pakistan and African nations enjoying duty-free access to major markets such as the EU and the US, while Indian products face duties ranging from 10% to 34%.

According to the Confederation of Indian Textile Industry, MMF goods contribute to around 55% of global textile trade.

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