Govt plans to tweak textile policy giving fillip to manmade fibres

Govt plans to tweak textile policy giving fillip to manmade fibres

The Niti Aayog has begun reviewing policies and regulations that need to be tweaked in the textile and apparel sector, as India gears up to transition towards manmade fibre (MMF) to cater to the rising demand.

Delhi

The Niti Aayog has begun reviewing policies and regulations that need to be tweaked in the textile and apparel sector, as India gears up to transition towards manmade fibre (MMF) to cater to the rising demand.

The focus would be to facilitate the development of new business models, innovations, technological advancement, development of new markets and products and even imposing extended producer responsibility to compel the industry to transition towards a circular economy that uses resources more efficiently, as per a senior government official.

The strategy comes amid the government’s push to MMF and technical textiles for which it has approved a Rs 10,683 crore production-linked incentive scheme last year. The scheme covers 40 MMF garment items, 14 MMF fabric goods and 10 technical textile products.

According to the official, short-, medium- and long-term goals would be set for the textile and apparel sectors and the targets would be regularly reviewed. The move is in line with the European Union’s new Circular Economy Action Plan, 2020 which has included textiles as one of the key product value chains facing multiple sustainability challenges.

A circular economy is a model of production and consumption, which involves sharing, leasing, reusing, repairing, refurbishing and recycling existing materials and products as long as possible and aims at tackling global challenges like climate change, biodiversity loss, waste and pollution. The government estimates that a circular economy path could bring in annual benefits of $624 billion, in 2050.

According to Niti Aayog, there is a need to comprehensively examine the sustainability of the value chain in the textile sector because of the way the fast fashion strategy by brands has changed consumer behaviour, compelling India and other countries to move towards MMF.

Source: The Economic Times

Image Source: Google Images

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