India’s textile sector utilising manufactured fibre (MMF) is expected to experience significant expansion due to the Production Linked Incentive (PLI) programme and advantageous free trade agreements with the United Arab Emirates and Australia. According to forecasts, exports will soar to $11.4 billion by 2030, up from approximately $6.5 billion in 2021–2022, a 75% rise.
Current Position in Global Market
- Presently, India is the world’s second-largest manufacturer of MMF textiles, after China.
- With a substantial 72% market share, the MMF industry leads the world in textile fibre consumption; natural fibres make up the remaining 28%.
- This move towards MMF is explained by the natural growth constraints placed on cotton and other natural fibres.
Key Products Driving Growth
- Synthetic fiber-based curtains, drapes, interior blinds, and bed valances, in addition to tents and tarpaulins, are recognised as important factors contributing to the industry’s expansion.
