During 2021-22 India’s exports of manmade fibers have grown 82 per cent and manmade fiber blended textiles rose 46 per cent compared to the previous year.

Exports of manmade fibre yarns 72 per cent, while manmade fiber fabrics 30 per cent and manmade fiber made-ups 28 per cent. However, the share of the value-added segments like fabrics and made-ups in total exports has gone down from 63 per cent to 56 per cent.

In the current financial year exports have been slightly stressed in the firstt quarter. However, an encouraging turnaround was seen from August 2022 exports. Further growth of exports of synthetic textiles seems likely. The PLI scheme has been introduced for manmade fiber textiles, the ATUF scheme is being continued and RoDTEP rates have been rationalized. Among the possible future measures are incorporation of more manmade fiber textiles in the PLI 2 scheme, extension of the interest equalization scheme for yarns, implementation of the fiberneutral policy, treatingmanmade fiber textiles at par with natural fibers and treating both merchant exporters and manufacturing exporters as one.

The pandemic paralyzed economies around the world for two years and caused a lasting damage on labor productivity and potential output.