Surat-Key to Future Textile Growth in India: RIL VP

Surat : J Raghunath, senior vice president of Reliance Industries Limited (RIL) has said that the consumption of man-made fabrics is projected to increase by 30 million metric tonnes in 2030 and Surat, which is known as the textile capital of India, has a golden opportunity to grab. 

J Raghunath, RIL’s senior VP was speaking at the inaugural event of ‘Yarn Expo 2024’ organised by the Southern Gujarat Chamber of Commerce and Industry (SGCCI) at SIECC, Sarsana on Friday. 

According to Raghunath, the development of India’s textile industry is dependent on the textile industry of Surat and Prime Minister Narendra Modi’s dream of a self-reliant India will be realised from Surat. He said that the best technology and best talent are available in India for making export oriented products.

Presenting the global scenario of the textile industry to the entrepreneurs, he said that the total consumption of textiles in the world is 104 million metric tons, which is likely to increase by 30 million metric tons by the year 2030. The share of man made fibre is 78 million metric tons, which is likely to reach 106 million metric tons. 

Talking about polyester in man made fabric, its current consumption is 58 million metric tons, which is likely to go up to 81 million metric tons. While viscose and nylon among other man made fabrics have a growth potential of 20 to 50 million metric tons.

Currently, the global population is 7.7 billion, which may increase to approximately 8.5 billion by the year 2030. Global per capita annual textile consumption is 14.3 kg, which will increase to 16.6 kg by the year 2030. Annual per capita consumption of textiles in India is 6 kg. However, textile entrepreneurs will have to create Surat brand. He further said that in future the textile industry will have to adopt man made fabric.

Director General of Korea Trade-Investment Promotion Agency Kyu Nam Kim said that people of Surat are known as people of fashion all over the world. He congratulated the SGCCI for the success of the Yarn Expo.

Girdhargopal Mundada, chairman of Yarn Expo 2024 said that the consumption of polyester yarn in Surat is 1.5 lakh metric tons every month. The consumption of cotton per month is 3000 metric tons. The consumption of nylon yarn was 3000 metric tons in the year 2009, which has increased to 9000 metric tons in 2024. The consumption of viscose filament is 1000 metric tons per month. Last year, yarn worth Rs 1900 crore was exported from Surat.