Manmade fibre textile exports to surge 75% by 2030

Manmade fibre textile exports to surge 75% by 2030

Products like curtains, drapes, interior blinds, curtain or bed valances of synthetic fibres, tents of synthetic fibres, and tarpaulins are identified as potential drivers for this growth.

Buoyed by the Production Linked Incentive (PLI) scheme and free trade agreements with the UAE and Australia, the industry anticipates that India’s exports of manmade fibre (MMF) textiles will witness a 75% increase, reaching $ 11.4 billion in 2030, up from approximately $ 6.5 billion in 2021-22.

It was mentioned that India is the second-largest producer of MMF after China.

Products like curtains, drapes, interior blinds, curtain or bed valances of synthetic fibres, tents of synthetic fibres, and tarpaulins are identified as potential drivers for this growth.

A government official, referring to technical textiles as a sunrise sector and the future of the industry, noted that ambitious targets have been set for it.

Currently, MMF dominates global textile fibre consumption, holding a 72% share, while natural fibres account for 28%. This dominance of MMF is attributed to the inherent limitations of the growth of cotton and other natural fibres.

The industry envisions exploring new markets, including Vietnam, Japan, China, and Poland, in addition to existing ones such as the US, Turkey, the UK, and Brazil, where India currently holds a 5% share in MMF textile exports.

The plan also involves enhancing capacities for filament-based woven and knitted fabrics and processing of man-made filament yarn-based fabrics.

Bhadresh Dodhia, Chairman, Synthetic & Rayon Textiles Export Promotion Council, highlighted the environmental friendliness and sustainability of manmade fibre textiles, emphasising their lower water requirement compared to cotton textiles, cost-effectiveness, and greater potential for value addition.

Dodhia, who stated that technical textiles are primarily composed of MMF, emphasized that changing lifestyles and concerns for safety and health will drive increased use of technical textiles.

From 2016-2021, India maintained its export share in the global trade of MMF textiles at 3.4%. 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 duty rates ranging from 10-34%.

According to the Confederation of Indian Textile Industry, globally, MMF products hold about a 55% share in the global textile trade.

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