Source India 2019, Mumbai to be India’s Global Market Place for MMF
Mumbai: Textile Industry Exports in India currently pegged at around US$ 40 billion are expected to increase to US$150 billion by 2024-25. With a vision to consolidate India’s market position globally,The Synthetic & Rayon Textiles Export Promotion Council (SRTEPC) the oldest Export Promotion Council in India is organising 4th edition of its flagship exhibition “Source India 2019” in Mumbai next week from 21-23 August 2019. The mega event will be organised under the aegis of the Ministry of Commerce & Industry and Ministry of Textiles, Govt. of India.
With a view to protect the ecology and environment, the demand for man-made fibre (MMF) textiles all over the world is increasing as a substitute for cotton amidst changes in global fashion trends. Currently MMF dominates global textile fibre consumption with 72: 28 ratio i.e., MMF 72% and 28% is Natural fibre. The share of MMF has been steadily increasing due to the cutting-edge technology, its durability and sustainability concerns.
Speaking on Source India 2019, Chairman SRTEPC Ronak Rughani said “Our Council, established in 1954 has spearheaded India’s export focus on ‘Man-Made Fibre’ industry and with our efforts, the exports have grown to contribute 16% of the Textile and clothing exports from India (in value terms) in 2018-19. We contribute 2% to India’s GDP and employ more than 18 million people directly and more than 20 million people indirectly. We export entire MMF textile value chain including fibre, yarn, fabrics and made ups to nearly 140 countries. More than 60% of our exports are of value-added items such as made ups and fabrics”.
Talking about emerging global trends in MMF, Mr. Rughani added, “globally increasing price volatility, durability and sustainability concerns have made leading fashion brands to gradually shift the fibre mix in favor of synthetic fibres, especially polyester and viscose. Improvement in technical properties of MMF has also supported this shift”.
We are seeing a definite trend of higher share of polyester & viscose fibre in shirting and suiting fabrics, especially as blend with cotton. There is also a trend of using lower GSM fabric for sarees and other traditional dresses.
There has been a continuous rise in the number of working women in organised sector and this has not only increased the consumption of western office wear but also dresses suitable for party wear. Fabrics with 100 per cent MMF content or in blend with other natural fibres are very much suitable for such products.
Millennials all over are trying hard to remain fit and active. Consumer is getting fitness conscious and opting for sports and physical exercises due to which they look for clothing with combination of comfort and performance. Manmade fibre and yarns are the dominant in active wear market and most of the international brands are preferring MMF due to their functional properties like durability, stretching, waterproofing, stain resistance, fire-retardant, moisture absorbent, sustainability, technical advancement, etc.
SRTEPC also sees Uniforms as a growing market. Increasing number of school going children, usage of different uniform for different days
by many private schools and usage of uniform by increasing number of schools are making this segment
to grow. Corporates are also increasingly becoming image conscious and using uniforms, especially for consumer facing activities. Polyester based fabric of higher GSM is used in such garment construction and demand of such fabric will grow significantly in coming years.
Technical textile market is still at a nascent stage in India and almost all categories will observe significant growth in coming time, which will lead to increased usage of different types of fibres. Fibre composites containing carbon fibre-reinforced plastic is the advance material innovation for light weight savings and shall have more advantages.”
During the 3 day Source India 2019, over 125 top MMF Indian companies will be exhibiting their latest range of synthetic and rayon textile items including fabrics, yarn, made-ups, fibre, home textiles and technical textiles. Around 180 leading buyers from 40 countries and 20 international buying houses are visiting Mumbai during Source India 2019 to place orders for forthcoming season.
Presently India produces over 1441 million kg of man-made fibres and over 3000 million kg of man-made filaments. Over 23000 million sq. mtr. of fabrics were produced from Man-made fibres and their blends. Most of the Man-made fibres are currently produced in India. India is 2nd largest producer of polyester and viscose in the world. Major varieties are polyester, viscose, acrylic and polypropylene.
” We invite all Garment and Fashion Industry doyens of India to visit Source India 2019 and procure their requirements,” concluded Mr. Rughani.
Your email address will not be published. Required fields are marked *
Save my name, email, and website in this browser for the next time I comment.
Sign me up for the newsletter!
Notify me of follow-up comments by email.
Notify me of new posts by email.
Difference Between CGPA and SGPA
Former Ambassador Gautam Bambawale joins Ola as Senior Advisor for Corporate and International Affairs
How Will Real Estate Market Deal With Urban Influx In 2020?
SpiceJet introduces dedicated freighter services to boost India’s shrimp farming
ETIHAD ENGINEERING RECORDS ROBUST GROWTH AS IT WELCOMES 2020
2014 The Global Indian New Network (TGINN)