What is the growth potential of the synthetic textile segment?
Manmade fibre constitutes 60 per cent of Chinas total textile exports, in Indonesias case it is 65 per cent. But in India, its share is limited to a mere 15 per cent of total textile exports. Globally, there is a demand for synthetic and blended textile products, but India is encouraging natural fibre at the expense of manmade fibre. If this trend (fiscal policy) continues at a time when opportunity is knocking at our door, Indian exporters will miss the bus. As far as growth potential of the synthetic segment is concerned, in the domestic market there is a shift from cotton to polyester. Polyested fabric is increasingly used in apparel due to its bright colour and low maintenance. To achieve the $40 billion textile exports target from current level of $14 billion ($12 billion cotton and $2 billion synthetic), we need to focus on manmade fibre also. Cotton exports can be taken up to $20 billion in the next six years, but the balance export growth will come from manmade fibre. What make
