Mumbai, Nov 20 (NationPress) India has witnessed a remarkable 6.5 percent growth in man-made fibre (MMF) exports for the year 2024–25. Additionally, exports of technical textiles surged by more than 15 percent, showcasing the country’s improving competitiveness in this emerging sector, as stated by Pabitra Margherita, the Union Minister of State for Textiles and External Affairs.

"Together, we aim for a $100 billion target in textile exports and a $350 billion textile market by 2030, in line with our vision of a Viksit Bharat by 2047," he remarked.

With an increasing global demand, India is set to capture a more significant share of the growing international market.

The minister highlighted that India’s superior quality products are fortifying the nation’s image as a reliable global partner.

“The demand for textiles globally is at its peak, with an emphasis on high-performance, functional, and sustainable materials. India is rising to meet this evolving demand with vigor and confidence,” Margherita stated during his address at the Manmade and Technical Textiles Export Promotion Council (MATEXIL)’s Export Award Function for 2023–24 and 2024–25 in Mumbai.

During the event, the minister presented awards for excellence in technical textiles, honoring nearly 80 exemplary performers across various categories.

Margherita emphasized that the celebration was not just about recognizing winners but also about appreciating every worker, engineer, designer, entrepreneur, and exporter who propels the textile sector forward. “Your efforts empower millions of families and bring pride to our nation,” he noted.

The minister pointed out that MMF and technical textiles are leading the global transition towards sustainable and advanced materials.

Today, MMF constitutes nearly 70–75 percent of the global fibre market, indicating a substantial shift in consumer preferences and industrial uses. “India is responding to this shift with strength and confidence,” he reiterated.

Margherita also highlighted the pragmatic approach taken by Prime Minister Narendra Modi and Union Textiles Minister Giriraj Singh in alleviating industry challenges and enhancing value-chain opportunities.

The Ministry of Textiles has introduced transformative initiatives such as the Production Linked Incentive (PLI) Scheme and the National Technical Textiles Mission, which are boosting capabilities at every level of the value chain. There is a robust momentum under the PLI scheme for textiles, with 17 new companies approved, committing Rs 2,374 crore in investments.