Overview of the Industry
Textile sector grew at 6 per cent to US$ 40 billion in FY 2017. India is the largest cotton and jute producer and second largest textile fibre producer in the world, and accounts for around 5 per cent share in the global textile and apparel trade. Polyester is the largest segment of the Indian MMF and rayon textile industry.
Total fabric production in India reached 69 billion sq mts during the year 2017-18. India is one of the world’s leading manufacturers of man-made textiles. Indian fabrics are known for their excellent workmanship, colours and durability. Indian man-made fibres (MMF) are set to take centre stage in the global arena. The textile and apparel sector contributes 14 per cent to industrial production, 4 per cent to India's gross domestic product (GDP) and constitutes 15 per cent of the country's export earnings. The sector provides employment to nearly 51 million people directly and 68 million people indirectly.
Export of manmade fibre textiles during 2017 stood at US$ 5,250.79 million, as against exports worth US$ 5,286.65 million during the same period a year ago. The total yarn exports during 2017 rose 9 per cent to US$ 1,796.11 million as against exports worth US$ 1,650.40 million during the same period a year ago. Total fibre exports during 2017rose 11 per cent to US$ 597.12 million as against exports worth US$ 540.38 million during the same period a year ago.
Indian exports MMF textiles to more than 146 countries. Turkey, Egypt, Indonesia, Brazil, and Germany are major importers of Indian man-made fibre yarns.