India’s MMF industry poised for fast growth, potential to capture $20 bn: AEPC

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India’s man-made fibre (MMF) industry is poised for fast growth with the potential to capture $20 billion worth of business in the segment’s global trade, said the Apparel Export Promotion Council (AEPC) on Wednesday.

AEPC Chairman A. Sakthivel said that the MMF garment industry in India will grow as the government has agreed to promote the sector.

“The government has announced Production Linked Incentive (PLI) scheme for MMF segment and creation of seven mega textile parks in the country,” he said.

“These measures will increase production and export of MMF garments from India.”

Sakthivel was speaking at a virtual B2B meeting on ‘Improving MMF Fabric Options for Indian Apparel Exporters’ held between MMF garment exporters, buying houses and fabric suppliers organised by AEPC.

At present, MMF globally is a $200 billion industry.

The meeting was attended and actively participated by about 100 major players from the three key segments.

Besides, MMF garment exporters said that while they have huge orders they found it difficult to get proper fabrics, and were forced to import these.

They said that long delivery time and issues of quality consistency of MMF fabric were the main constraints in increasing apparel exports from India.

–IANS

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