According to a recent study by the Confederation of Indian Textile Industry (CITI) and Wazir Advisors, the Indian manmade fibre (MMF) sector has the opportunity to tap into the rising demand for affordable synthetic fashion driven by mid-income populations in Africa, South East Asia, and Latin America.
Key highlights:
• Study reveals growing demand for climate-adapted, cost-sensitive apparel.
• CITI and Wazir Advisors emphasize the need for India to focus on affordable synthetic fashion.
• Indian MMF industry urged to develop lightweight synthetic hijabs, wrinkle-free uniforms, and weather-resistant workwear.
• Expansion and modernization of MMF capabilities crucial for global competitiveness.
The study underscores the potential for India to establish itself as a key player in the global MMF economy by focusing on affordable synthetic fashion and enhancing downstream capabilities.
Source: Business News Today, Latest Finance News | The Hindu