Innovative Business Practices and Economic Models in the Textile Value Chain in India’ (IndiaTex) Launched | Current Affairs | Vision IAS

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  • IndiaTex is launched at BHARAT TEX 2024, one of the largest-ever global textile events organized in India.
  • IndiaTex is a four-year (2023-2027) United Nations Environment Programme (UNEP) project.
    • It is a part of the One UNEP Textile Initiative
      • This initiative provides strategic leadership and encourages sector-wide collaboration to accelerate a just transition towards a sustainable and circular textile value chain.

 

  • About IndiaTex 
    • Objective: Accelerate the transition of the Indian textile sector towards circularity.
    • Implementation: In collaboration with Ministry of Textiles
      • It will be funded by Denmark's Ministry of Foreign Affairs.
    • It is based on 3 key concepts:
      • Eco-innovation: Guides Small and Medium Enterprises (SMEs) in incorporating circularity and resilience into every aspect to reduce the environmental and social impact of human activity. 
      • Product Environmental Footprint (PEF): PEF measures the environmental performance of a good or service throughout its life cycle (European Commission).
      • Circularity:  Based on principle Reduce by design, as well as value-retention processes: Reduce, Reuse, Refurbish, Repurpose, Recycle, etc.

 

  • Benefits for India: Will improve the textiles sector’s competitiveness and market access. 

 

 

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