Ongoing IRANTEX puts the spotlight on yarn production.

Tehran is currently hosting a major textile industry exhibition, IRANTEX, featuring over 290 domestic and international companies. The event showcases advancements in textile machinery, raw materials, and business opportunities, with notable participation from companies in Iran, Germany, Italy, Taiwan, Uzbekistan, Tajikistan, South Korea, Turkey, Pakistan, Austria, Switzerland, India, Japan, and China. A significant focus of the exhibition is yarn production, a critical component of the textile industry. China, India, and Turkey, top textile exporters, are prominently featured, with 100, 18, and 12 companies respectively presenting their yarn products. Iran’s textile sector benefits from substantial domestic raw material supplies. The country produces over 50 per cent of its silk needs, translating to 330 tonnes annually, with potential for increased self-sufficiency. Additionally, Iran’s access to oil and gas resources supports synthetic fiber production. Despite these advantages, the textile industry has faced challenges, including a sharp decline in its GDP share from 6.4 per cent to less than 1 per cent over the past three decades. The sector struggles with smuggling, which has contributed to job losses and economic setbacks. To address these issues, Iran has allocated $1.1 billion for modernization efforts in related sectors and is seeking $5 billion in investment over five years to revitalize its textile industry, with a strong emphasis on enhancing yarn production capabilities.