India is one of the world's largest producers and consumers of textiles and apparel, with a rich heritage of handloom and handicrafts. However, the global market trends are shifting towards man-made fibres (MMF), which offer various advantages such as durability, versatility, cost-effectiveness, and sustainability. MMF are synthetic or cellulosic fibres that are derived from chemical processes or natural sources. Some of the common MMF are polyester, viscose, nylon, acrylic, and spandex.
According to a report by Invest India, the MMF industry contributes 17% of India's textile exports, and the country is the world's sixth-largest exporter of MMF textiles. However, there is a huge potential for further growth and diversification in this sector, especially in the segments of Active wear, Home textiles and cloth textiles. The government has taken several initiatives to support this sector, such as the Production Linked Incentive (PLI) Scheme for Textiles, which aims to promote production of MMF Apparel, MMF Fabrics and Products of Technical Textiles in the country. The scheme has an approved outlay of INR 10,683 crore over a five-year period and is expected to generate employment for 2.45 lakh people. The scheme will also help in increasing the domestic value addition and reducing the! import dependence in this sector.
Active wear is a category of clothing that is! designed for physical activities such as sports, fitness, yoga, and leisure. Active wear is made from fabrics that are breathable, stretchable, moisture-wicking, and comfortable. MMF are ideal for Active wear as they can provide these qualities along with durability and resistance to abrasion, fading, and pilling. The global Active wear market is expected to grow at a CAGR of 6.7% from 2020 to 2027, reaching $547 billion by 2027. India has a huge opportunity to tap into this market by enhancing its manufacturing capabilities and product innovation in MMF-based Active wear.
Home textiles are products that are used for decorating and furnishing homes, such as bed linen, bath linen, kitchen linen, upholstery, and floor covering. Home textiles are also made from fabrics that are soft, comfortable, durable, and easy to maintain. MMF can offer these qualities along with aesthetic appeal, variety, and functionality. A market expected to grow at a CAGR of 5.01% from 2019 to 2028, reaching $146 billion by 2028, there is tremendous scope for further value addition and diversification in MMF-based home textiles.
In Cloth textiles, MMF can offer fantastic qualities along with cost-effectiveness, ease of availability, and environmental benefits. The global cloth textile market is expected to grow at a CAGR of 4.24% from 2019 to 2025, reaching $1.23 trillion by! 2025. There is clearly a need for enhancing the quality and variety of MMF-based cloth textiles to meet the changing consumer demands.
By enhancing the manufacturing of MMF based products in India, the textile industry can achieve size and scale and become more competitive in the global market. This will also help in creating more jobs, boosting exports, improving sustainability, and contributing to the overall economic development of the country.
