MMF globally is a $200 billion opportunity. Can India Cash on?

MMF globally is a $200 billion opportunity. Can India Cash on??????

The government has recently announced Production Linked Incentive (PLI) scheme for MMF segment and creation of seven mega textile parks in the country.

These measures will increase production and export of MMF garments from India.

“MMF globally is a $200 billion opportunity. If we come together as a country and create a supply chain that starts with design, product development, fabric development, and, of course, garmenting, we can target 10% of the $200 billion. We are talking of a $20 billion opportunity sitting right there,” said Sanjay Shukla from Triburg Apparel.

Other buying houses like Impulse also shared that there was a huge 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.

AEPC Chairman Dr A Sakthivel said that the MMF garment industry in India is poised for fast growth as the government has agreed to promote the sector.

Speaking at the meeting attended and actively participated by about 100 major players from the three key segments, MMF garment exporters said that while they have huge orders they found it difficult to get proper fabrics, and were forced to import these.

They said that long delivery time and issues of quality consistency of MMF fabric were the main constraints in increasing apparel exports from India.

The country has sufficient supply of MMF fibre and yarn, but is in short supply of quality fabric.

Replying to the concerns of the exporters in the meeting that held three sessions, fabric producers assured that they have ample machinery and technology to produce fabric of international standard, and that they are already supplying to the exporters in a big way.

They said that the exporters need to ask for their needs and they will facilitate.

Ajay Sardana from Birla Group of Companies said that his company, which is mainly into viscose staple fibre (VSF), will do everything possible to produce all types of viscose fabric, and that he has got a special team to take care of exporters’ needs.

“We have a complete supply chain team which helps to get the fabrics if it is not available. If anybody is facing any problem, they can contact our team and we will make sure that the right quality is available at the right time. If AEPC agrees, we can jointly create a fabric library for those fabrics that are not regularly available but are required in small lots. We are ready to invest,” he said.

Sardana also said that his company has a lot of technical expertise and is willing to further hire global consultants if certain viscose based fabric with the required finish is not available in India. He said he is willing to invest to remove any processing limitation.

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.

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.

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