India has a great chance to capture the market for manmade fibers that’s been vacated by China. Synthetic textiles made from manmade fibers account for 70 per cent of the world textile supply and the rest is cotton. Given the scale of exports from China, even a one per cent shift means a ten per cent increase in India’s exports of manmade fibers and synthetic textiles.

Cotton still commands more than 50 per cent of India’s textile production. However, the synthetic textile segment is gradually growing. The world is shifting towards manmade fibers and there is a need for innovations in fabrics, integrate the value chain and invest in skill development to boost textile exports from the country. Hastening of negotiations with regard to free trade agreements with EU and Canada and labor law reforms and logistics improvements are essential for the growth of the textile sector.

India is already reeling under a huge competitive disadvantage in the international textile market when it comes to manmade fiber based textile products. Competitors like China, Vietnam and Bangladesh are ahead in global exports of manmade fiber textiles. Under-investment in the sector is the biggest challenge in India. It has resulted in a weaker value chain driving foreign buyers to other countries. Speed, innovation and digitization hold the key to India's success.