80% of Indian textile industry adopted sustainable manufacturing: Survey

New Delhi, June 13 (KNN) According to "Sustainability Survey Report 2023" conducted by The Yarn Bazaar and Wazir Advisors, approximately 80 per cent of major players in the Indian textile industry have already implemented various sustainable manufacturing practices.

The report points out the significant momentum building among stakeholders across the textile value chain towards embracing sustainability and addresses key Environmental, Social, and Governance (ESG) factors. 

The realisation that ramping up production alone is insufficient has led to a collective focus on adopting sustainable practices, aligning with the environmental pillar of ESG, it said.

According to the report, 13 per cent respondents currently have a 50-75 per cent share of sustainable products in their portfolio. Similarly, 25 per cent respondents currently offer more than 75 per cent sustainable products.

It showed that there there is a significant upsurge in cotton recycling, alongside traditional polyester recycling, as the industry’s approach towards circularity evolves. 

Integrated players and large-scale spinning mills are actively exploring ways to recycle waste for the production of circular textiles, contributing to a more sustainable and circular economy.

Due to the efforts of some companies the capacity for recycling polyester from bottles and converting it into textile materials in India is expected to reach or surpass 1,600 kilo tonnes per annum by 2030, at a CAGR of 4 per cent, the report pointed out.

This indicates a significant increase in recycling infrastructure and capabilities in the country, highlighting the growing focus on sustainable practices in the textile industry.

Sanjay Arora, Business Director from Wazir Advisors, said “ the report showcases a fundamental shift in the approach of key stakeholders in the Indian textile industry. It is heartening to see that 80 per cent of these stakeholders have already embraced sustainable manufacturing practices, reflecting the industry’s commitment to environmental responsibility.”

“Sustainability has become a critical factor for success in the global textile market, and the report highlights the increasing adoption of sustainable products, focusing on circularity, and alignment with global benchmarks,” he said.  (KNN Bureau)