Home / Knowledge / News / Textiles / MMF segment needs to grow substantially: CITI chairman
MMF segment needs to grow substantially: CITI chairman
10
Jan '15
The manmade fibre (MMF) segment needs to grow substantially if the Indian textile industry has to achieve a turnover of US$ 350 billion by 2025, according to Prem Malik, chairman of Confederation of Indian Textile Industry (CITI).
 
Speaking at the inauguration of Texfair 2015, the textile machinery, accessories and spares expo, in Coimbatore, Malik said the Indian Government has set a very ambitious revenue target of $650 billion by 2025; however, it is practically possible to achieve $350 billion in ten years time.
 
Since cotton has cotton has constraints of land availability and productivity limitations, the huge fibre needed to meet the high target set by the textile industry can be met only if the MMF grew substantially, Malik said.
 
He emphasised that consolidation and integration of production facilities would be another area that requires urgent attention.
 
Making a comparison of the Indian and the Chinese textile industry, he said, the Indian textile industry generates annual revenue of around $100 billion at present, with exports contributing more than half of that share. In contrast, the domestic textile market of China is estimated to be around $300 billion.
 
In global markets, MMFs have nearly 70 per cent share in the textile industry, while all MMFs taken together have only a share of around 30 per cent in Indian textile industry’s fibre consumption, he stated.
 
“Our share in fabric and apparel exports is just four per cent, while China has 44 per cent. We have to do a lot,” Malik said. 
 
“For achieving economies of scale and attracting FDI, we need to scale up our production facilities, especially in fabrics and garments, both of which are dominated by sub-optimal sizes at present,” he added.
 
Around 180 companies are showcasing their products at the four-day ninth edition of Texfair, being organised by the Southern India Mills Association (SIMA).
 
T Rajkumar, SIMA chairman, said the Government should soon announce the fibre policy to ensure stability in cotton prices. (RKS)
 
 

Fibre2fashion News Desk - India


Must ReadView All

Last-minute changes in USMCA keeps lid on e-com

Textiles | On 18th Oct 2018

Last-minute changes in USMCA keeps lid on e-com

Eleventh hour changes to a new trade deal torpedoed US hopes of...

Courtesy: Haggar

Apparel/Garments | On 18th Oct 2018

Haggar uses Repreve fibre made of recycled water bottles

Haggar, a US based apparel brand established in 1926, has recycled...

Revenue from RIL petrochemicals soars 56.2% in Q2FY19

Textiles | On 18th Oct 2018

Revenue from RIL petrochemicals soars 56.2% in Q2FY19

The revenue from the petrochemicals segment of Reliance Industries...

Interviews View All

Angelina Francesca Cheang, MY ANJE

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Nitin Soni, Dolphin Jingwei Machines

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Sanjay Yagnik, Maa Tex Speciality

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Pratik Agarwal,

Pratik Agarwal

Breya is a brand of Indo-Western clothes for women owned by ABP Apparels...

Karan Behal,

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Harmeet Singh,

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Mark Brill, Birmingham City University (BCU)

Mark Brill
Birmingham City University (BCU)

<div>A technological breakthrough could see people getting messages about...

Paolo Ocleppo, Sandvik Hyperion

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Robin Grankvist, OrganoClick AB

Robin Grankvist
OrganoClick AB

Robin Grankvist talks about PFCs, additives and various chemicals used in...

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Silvia Venturini Fendi, Fendi s.r.l

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search