Man-made textiles export jumps 25 per cent in 2013-14

According to data released by the Synthetic and Rayon Textiles Export Promotion Council (SRTEPC), export of MMF yarn, fabrics and made-ups jumped 25 per cent increase in fiscal 2013-14 to Rs 31,000 crore from previous year. In March 2014, these exports registered a growth of 22.28 per cent to Rs 2,972 crore from Rs 2,375 crore in the corresponding month a year ago.

During the year, UAE, the USA, Turkey, Brazil, Pakistan and Italy were the leading export destinations that contributed majorly in the growth of export.

During the first 10 months of 2013-14, the export of MMF textiles was valued at US$3,993 million against US$3,525 million during the same period a year ago. While the US emerged as the second largest market for MMF textiles after UAE, Belgium has emerged as one of the leading market for the export in the Euro Zone. Meanwhile, the export of yarn to Turkey and Brazil increased 16 per cent and 7 per cent, respectively, despite anti-dumping duties imposed on yarn imported from India.

According to SRTEPC, export of fabric made of MMF accounted for 30 per cent in the overall export of MMF textiles. The manufacturing hubs like Surat, Bhiwandi and Ichhalkaranji had a major contribution in the export of MMF fabrics.

As per Arun Jariwala, chairman, Federation of Indian Art Silk Weaving Industry, demand for MMF fabrics is increasing from developed countries and hopes that the new government will would provide required impetus to boost the textile sectors.