Future of Man-Made Fibres In Indian Textile Sector

29 April 2022, Mumbai:

According to the policy, the global fiber consumption trend is projected to shift further toward man-made fiber.

Given that future demand is likely to be substantially in favor of manufactured fiber-based textiles, as concluded, particular attention is necessary to raise consumption and production.

Reliance India Limited, Grasim, Indo-Rama Synthetics Limited, Century Euka Limited, and Birla Cellulose is the major manufacturers of man-made fiber in India.

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Itochu is one of the leading Japanese commercial corporations globally, with roughly 122 facilities in 65 countries and a presence in India since the early 1960s. Itochu is headquartered in Delhi, with offices in Mumbai and Chennai.

The firm trades a wide range of items (both export and import), including metals, minerals, plastics/chemicals, and food, but its textile division remains the most profitable. The textile section handles raw materials (yarn), textiles, and apparel.

The segment's current concentration is on specialty man-made fibers. Sanjeev Kothavade, Country Head, Raw Material & Fabric, Itochu India, discusses the company's expansion plan with AO.

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With the effects of the COVID-19 epidemic and a sluggish global economy, the country's MMF garment exports decreased dramatically in 2020. In 2020, India's monthly average MMF garment exports fell to $256.18 million.

The dramatic drop occurred in April 2020, from $277.16 million in March 2020 to $32.22 million in April 2020, a massive reduction of 88.38 percent.

With the joint efforts of the Government of India and industry employees, an export level of $258.40 million was reached in July 2020, representing a seven-fold increase in just three months.

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Except for the variation between September 2020 and November 2020, it has exhibited a constant climb till December 2020.

Itochu obtains this yarn from Asahi Kasei Fibers, a business located in Japan that holds a monopoly on this technology and is the exclusive manufacturer of this yarn.

The company, a pioneer in environmentally-friendly solutions, creates next-generation enterprises that contribute to living in health, comfort, and harmony with nature.

Itochu has been selling this yarn in India since 1978, with Surat being the primary market; however, sales are now growing in Bangalore and other parts of the country.

Factors such as increased use of nonwovens and technical textiles, changing consumer trends such as a greater emphasis on fitness and hygiene, rising brand consciousness, rapidly changing fashion trends, and increased female participation in the workforce will help drive up demand for manmade fibers.

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