Indian Economy News

Manmade fibre textiles exports to rise 75% by 2030: Textile industry

  • IBEF
  • November 29, 2023

The industry anticipates India's exports of man-made fibre (MMF) textiles to climb 75% to US$ 11.4 billion in 2030, from roughly US$ 6.5 billion in 2021-22, due to the Production Linked Incentive (PLI) scheme and free trade agreements with the UAE and Australia.

After China, India is the world's second-largest producer of MMF. Curtains, drapes, interior blinds, curtain or bed valances of synthetic fibres, tents of synthetic fibres, and tarpaulins are some of the products that can drive this rise.

A government official said, "Technical textiles is a sunrise sector and the future of this industry", adding that ambitious targets have been established for it. Presently MMF accounts for 72% of the world's consumption of textile fibre, while natural fibre makes up 28%.

Due to the inherent limitations of cotton and other natural fibre growth, the share of MMF has been gradually increasing. The industry's goal involves expanding into new markets such as Vietnam, Japan, China, and Poland, as well as existing ones like as the United States, Turkey, the United Kingdom, and Brazil, where India accounts for around 5% of MMF textile exports. The plan also includes increasing the capacity of filament braided (BRD) woven and knitted fabrics as well as the processing of man-made filament yarn BRD fabrics. The vision has been prepared by the council.

According to the head of the Synthetic & Rayon Textiles Export Promotion Council, Mr. Bhadresh Dodhia, “Manmade fibre textiles are environment friendly and sustainable as they require less water compared to cotton textiles, are cheaper and more value addition can be done on them.”

Mr. Dodhia continued saying that technical textiles are mostly made of MMF and that changing lifestyles, as well as concerns about safety and health, will lead to increased use of technical textiles.

India maintained its export share in global MMF textile trade at 3.4% from 2016 to 2021, but the challenge comes from Bangladesh, Turkey, Cambodia, Vietnam, Pakistan, and African countries enjoying duty-free access to all major markets such as the EU and the US, whereas Indian products face 10-34% duty.

According to the Confederation of Indian Textile Industry, MMF goods account for around 55% of worldwide textile trade.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.