Source: The Synthetic & Rayon Textiles Export Promotion Council

SRTEPC aims at doubling MMF exports to $ 6.2 bn by 2013

The textile industry is one of the important sectors to the Indian economy in terms of its share in GDP (4%), share in Industrial production (14%), generation of employment (It provides direct employment to over 35 million people, which includes a substantial number of SC/ST, and women) and share in export earnings (17%).

Though the Indian textile sector is cotton dominated, since the last decade, the share of Manmade Fibre textiles has grown substantially to reach 46%. Man-made fibres have been increasingly substituting cotton and the Indian textile industry is progressively shifting from cotton to Man-made textiles as better alternatives. The Man-made textile sector in India is comparatively modern, vibrant and a high growth potential sector.

Today, the Man-Made Fibre (MMF) textile industry occupies a pre-eminent position in India, producing almost all types of items, from basic raw materials to the finished products. It may be worth noting that India is the second largest producer of cellulosic fibre/ yarn and fifth largest producer of synthetic fibre in the world.

In recent years, massive capacity expansion has made the industry self-sufficient with state of art machinery and technology. Quality and productivity pervade every facet of the industry.

Collaboration and transfer of technology from world leaders in textile technology are the order of the day. Young and innovative professionals manage the textile plants. An army of designers and experts, in step with the modern trends, are constantly at work creating new effects, finishes and designs to give better textiles to the world. No wonder, India has emerged as a reliable supplier in the global market.

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The author is Chairman of The Synthetic & Rayon Textiles Export Promotion Council