Synopsis Buying houses like Impulse shared that there was an opportunity for MMF garments and that they have already identified major buyers and markets, and will make sure that MMF garments from India get more importance.
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The country has sufficient supply of MMF fibre and yarn, but is in short supply of quality fabric.
DELHI: Buying houses believe that Indian man-made fibre (MMF) garment exporters can aspire to grab $20 billion business in global MMF garment trade even as the domestic apparel industry works at resolving its limitations.
This was among the key takeaways from a virtual B2B meeting on ‘Improving MMF Fabric Options for Indian Apparel Exporters’ held between MMF garment exporters, buying houses and fabric suppliers organized by Apparel Export Promotion Council (AEPC) on Tuesday.
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‘Not a sales channel’
Production Linked Incentive scheme for man-made fibre and the creation of seven mega textile parks in the country will help increase production and exports of the sector, AEPC said on Wednesday. Apparel Export Promotion Council (AEPC) Chairman A Sakthivel said the MMF garment industry in India is poised for fast growth as the government has agreed to promote the sector. He was speaking at a virtual B2B meeting on Improving MMF Fabric Options for Indian Apparel Exporters . The council in a statement said that buying houses believe that Indian man-made fibre (MMF) garment exporters can aspire to grab USD 20 billion business in the global MMF garment trade even as the domestic apparel industry works at resolving its limitations.
Read more about Big bets on PLI schemes to find pot of gold at the end of the rainbow on Business Standard. The govt is going all out to push its ambitious production-linked investment scheme to help Indian manufacturing scale up and make India an export hub