India is poised to significantly boost exports of man-made fibers (MMF) by 75 per cent to $11.4 billion in 2030, up from $6.5 billion in 2021-22, with initiatives such as the Production Linked Incentive (PLI) scheme and free trade agreements with the UAE and Australia. A Confederation of Indian Textile Industry (CITI) report indicates this growth will primarily be fueled by increasing demand for synthetic fiber products, including curtains, drapes, interior blinds, curtain or bed valances, tents, and tarpaulins.
Globally, MMF dominates textile fiber consumption, with 72 per cent share. This share is steadily rising due to a decline in the consumption of cotton and other natural fibers. Currently, MMF products constitute approximately 55 percent of the global textile trade.
To capitalize on this growth potential, the MMF industry plans to explore new markets such as Vietnam, Japan, China, and Poland, in addition to existing markets like the US, Turkey, the UK, and Brazil. The industry aims to expand the production of filament-based woven and knitted fabrics and process more man-made yarn-based fabrics.
Bradesh Dodhia, Chairman of SRTEPC states, MMF textiles, requiring less water compared to cotton textiles, are not only more cost-effective but also align better with sustainability goals.