INDIAN TEXTILE INDUSTRY AT A GLANCE IN 2022 - 2023

The textile industry of India is one of the top contributors to the country's economy. The Man-made Fiber (MMF) industry contributes to about 17% of India's textile exports, and the country is the world's sixth-largest exporter of MMF textiles. India ranks second in the production of cellulose fiber/yarn and third in synthetic fiber production worldwide. India exports polyester, viscose, and other types of fibers, polyester yarns, spun filaments, rope, blankets, bed linen, fishing nets, motifs, and furnishing articles.

During 2022, India reached US$ 6.77 billion worth of exports, an increase of 45.83% over 2021.

In FY23, export of manmade fibres stood at US$ 463 million; manmade yarns, fabrics and made-ups stood at US$ 4.94 billion; readymade garments from manmade fibres stood at US$ 3.06 billion.

Indian MMF Exports

The leading markets for India's MMF textile exports are the USA, UAE, Turkey, Bangladesh, Brazil, Sri Lanka, Egypt, Germany, Italy, and Belgium.

The USA was the top market for Indian MMF textiles during 202022, comprising 14% of total exports, followed by Turkey and Bangladesh with 9% and 7% shares, respectively. The USA imported MMF textiles worth US$ 979.90 million and saw a growth of 47.30% during the stated period. The total exports to Turkey were valued at US$ 643.02 million during 2021-22. Additionally, UAE imported MMF textiles worth US$ 385.55 million during the same period. Other key markets during 2021-2022 were Bangladesh which imported MMF textiles worth US$ 447.71 million with a share of 7%, Brazil imported worth US$ 291.92 million and a percentage of 4%, Sri Lanka with imports worth US$ 255.50 million and a share of 4%, Egypt with imports of US$ 255.19 million accounts share of 4%, and Italy with imports of US$ 176.19 million and a share of around 3%. Germany and Belgium had a share of 2% each.

Turkey, Bangladesh, USA, and Belgium are the top importers of India's MMF fiber.