Indian Economy News

Mr. Piyush Goyal holds the first meeting of the newly constituted Textile Advisory Group for Manmade Fibre (MMF) at Vanijya Bhavan, New Delhi

At the Vanijya Bhavan in New Delhi, Mr. Piyush Goyal, Union Minister of Textiles, Commerce & Industry, Consumer Affairs, and Food & Public Distribution, hosted the inaugural meeting of the newly formed Textile Advisory Group. The Textile Advisory Group, comprised of senior officials from the Ministries of Textiles, Commerce, and Petroleum & Natural Gas, as well as industry associations and councils such as AEPC, SRTEPC, ASFI, AMFII, CPMA, and SIMA to represent the entirety of the MMF value chain, was established by Ms. Rachna Shah, Secretary (Textiles).

The Association of Man-Made Fiber Industry of India (AMFIl) and the Association of Synthetic Fibre Industry (ASFI) presented an overview of the industry and major challenges, including the need for protective measures to contain rising imports of MMF raw materials (PTA, MEG), MMF yarn, and MMF fabric (PFY, PSF, NFY), as well as the high degree of fragmentation in the downstream textile value chain from weaving to garmenting.

The enormous amounts of untapped man-made fibre production capacity brought up by imports were explored. During the discussion, the stakeholders put forth a number of potential improvements to the MMF value chain.

In order to increase the size and scope of the domestic MMF sector, Mr. Goyal cited the Production Linked Incentive (PLI) scheme for apparel made of man-made fibres (MMF), MMF fabrics, and products made of technical textiles as the Government's flagship intervention. He also pledged to give PLI beneficiaries dedicated handholding support through specially designated Ministry of Textiles officers for the purpose.

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