Welspun India launches Wel-Trak 2.0 Blockchain
Welspun India, global leader of home textiles is geared to transform the textile industry with Wel-Trak 2.0, an upgrade to Wel-Trak, the company’s patented end-to-end traceability technology introduced in 2018.
Welspun India, global leader of
home textiles is geared to transform the textile industry with Wel-Trak 2.0, an
upgrade to Wel-Trak, the company’s patented end-to-end traceability technology
introduced in 2018.
The upgraded platform is designed
to help the stakeholders –retailers, farmers, manufacturers, suppliers,
traders, certifying bodies and end consumers to track raw materials throughout
the supply chain back to its origin.
Following this development,
Welspun has become one of the first home textile manufacturer to use a Block
chain and AI-based traceability platform at such a large scale, which is set to
capture all its product lines, as well as major sustainability-related data
points. These include ESG metrics such as water usage, fair pay, power consumption,
gender equality, among others.
Welspun, in compliance with UN
Social Development Goals (SDGs), is deploying the advanced cloud-based
traceability technology across all its manufacturing units, Welspun India said.
Developed by InfiniChains, a
renowned tech company headquartered in San Francisco, the unified data platform
of Wel-Trak 2.0 is hosted on the cloud and boasts 99.9% availability.
Welspun is planning to move
all product categories and fibres to the tech-based platform, thereby becoming
a pioneer in the next-gen ESG data visibility technology.
Dipali Goenka, CEO &
Joint MD, Welspun India
Limited said
that, environmental and social concerns are making modern consumers more
cautious of their fashion and textile choices. It is the responsibility of
conscious brands to ensure that ESG parameters are optimally met and that all
stakeholders, including the customers and the consumers, have visibility into
the processes across the value chain.
She added that, blockchain technology is ideal for creating an
immutable, tamper-proof system that is immune to data manipulation and
fraudulent behavior by members across the textile value chain. Wel-Trak 2.0,
aim to ensure that all their processes are aligned with their ESG goals.
Source:
IIFL Securities
Image Source: Google Images
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