Question

PLI and FTAs to Give Fillip to Manmade Fibre Textile Exports.

Answer 1

Buoyed by the Production Linked Incentive (PLI) scheme and favorable free trade agreements with the UAE and Australia, India’s manmade fibre (MMF) textile industry is poised for substantial growth.

Forecasts indicate a staggering 75% increase in exports, reaching $11.4 billion by 2030, up from around $6.5 billion in 2021-22.

The MMF sector dominates global textile fibre consumption, commanding a significant 72% share, while natural fibres account for the remaining 28%. India currently holds the position of the second-largest producer of MMF textiles globally, following China.

This shift towards MMF is attributed to the inherent limitations in the growth of cotton and other natural fibres. Products such as curtains, drapes, interior blinds, curtain or bed valances made from synthetic fibres, along with tents and tarpaulins, are identified as key drivers for the industry’s growth.