ENA Economy 2022-02-11 07:45:59 <p><strong>New Delhi, Feb 11 (KNN)</strong> Due to the gradual decrease in the impact of Covid-19s third wave, the textile demand is expected to speed up in FY23 as per the India Ratings and Research (Ind-Ra).</p> <p>Reduction in logistics problems for export demand will help in maintaining vigorous demand, said the rating agency.</p> <p>After seeing a slight dip in 1QFY22, the domestic demand for all the textile sub-sectors has continued to improve from 2QFY22, which also increased the realisation along with the increased demand momentum and supply chain issues, were the key findings</p> <p>Moreover, it said that demand for MMF (man-made fibre) has continued to increase, mainly due to the rise in cotton prices, leading to a shift of demand from cotton to MMF, to an extent.</p> <p>It also highlighted that due to improved consumer spending the demand momentum sustained for home textiles in the domestic market.</p> <p>With regards to textile exporters in the cotton yarn segment continued to witness an improvement during 7MFY22 with volumes exceeding 47 per cent YoY over FY21, the agency cited.</p> <p>In view of an increasing demand for Indian yarn, the rating firm expects export volumes to remain higher for FY22 over FY20 and FY21. <em><strong>(KNN Bureau)</strong></em></p> 28355 https://knnindia.co.in/news/newsdetails/economy/textile-demand-to-see-buoyancy-in-fy23-ind-ra 2022-02-11 07:45:59 knnindia.co.in