Introduction
The textile industry of India is one of the top contributors to the country’s economy. The man-made fibre (MMF) industry contributes to 17% of India’s textile exports and the country is the sixth-largest exporter of MMF textiles in the world. The manufacturing cost of textiles is among the lowest in the world, making it a popular destination for investment.
The MMF industry in India is growing rapidly. The country ranks second in the production of cellulose fibre/yarn and third in the production of synthetic fibre in the world. India produces fibre, yarn, fabrics, made-ups and home textiles. The MMF fabrics hold a majority share in the segment exports, followed by made-ups and yarn.
Export Trend
India exports polyester, viscose and other types of fibres, polyester yarns, spun, filaments, rope, blankets, bed linen, fishing nets, motifs and furnishing articles. During the year 2021-22, India crossed the MMF textiles targeted exports of US$ 6.1 billion, reaching US$ 6.3 billion worth of exports. This was an increase of 36% and 7% from 2020-21 and 2019-20, respectively.
During 2020-21, synthetic filament fabrics (US$ 591.93 million) were the top exported product in India's MMF textile exports, followed by polyester filament fabrics (US$ 267.99 million).
Export Destinations
The leading markets for India’s MMF textile exports are the US, the UAE, Turkey, Bangladesh, Brazil, Sri Lanka, Egypt, Germany, Italy and Belgium.
Turkey, Bangladesh, the US, Brazil and Belgium are the top importers of India’s MMF fibre and yarn. The US and the UAE are the top export destinations for the country’s MMF fabrics and made-ups markets.
Government Initiatives
The Synthetic and Rayon Textile Export Promotion Council of India provides financial assistance to the exporters under the Market Development Assistance (MDA) Scheme. Under the Market Access Initiative (MAI), financial assistance is provided to the exporters for marketing, capacity building, research, project development, etc.
Governing Body
The Synthetic and Rayon Textiles Export Promotion Council (SRTEPC)
Formed in 1954, the SRTEPC is one of the oldest export promotion councils in India. The main roles of the council are to inculcate export culture and promote the exporters of Indian man-made fibre and textiles. The services of SRTEPC are to introduce buyers to exporters, information dissemination, undertake export promotion programmes, conduct market studies, provide financial subsidies, create and maintain data banks, and advise the government.
RELATED SITES
1 - Resham Bhavan
78, Veer Nariman Road
Mumbai - 400020
Maharashtra
India
Tel.:+91-22-22048797/22048690
Fax: +91-22-22048358
Email: srtepc@vsnl.com
Website: www.srtepc.org
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