Govt to set up task force to address environmental concerns in textiles

  • Commerce minister Piyush Goyal said that sustainable products are witnessing high demand and some exporters using sustainable means are getting twice the price of the products

Ravi Dutt Mishra
Published22 Apr 2023, 07:35 PM IST
India is negotiating a free trade agreement with western countries with a strong interest in boosting textile exports
India is negotiating a free trade agreement with western countries with a strong interest in boosting textile exports

The union government is set to launch a task force to address environmental concerns in the textile sector at a time when India is negotiating a free trade agreement with western countries with a strong interest in boosting textile exports.

Commerce minister Piyush Goyal said that sustainable products are witnessing high demand and some exporters using sustainable means are getting twice the price of the products. Goyal was speaking at the Saurashtra Tamil Sangamam in Rajkot.

"An Environmental, Social, & Governance (ESG) task force will be launched in collaboration with industry and concerned ministry representatives to help prepare a road map for sustainable textiles and to facilitate transition of the textile and apparel industry to socially compliant international norms," Goyal said.

Goyal further said that an e-commerce portal on handloom and handicraft products has been launched which would be integrated with the Open Network for Digital Commerce (ONDC). The textiles sector aims at $100 billion exports and $250 billion value of production by 2030, he further added.

This comes as western countries are increasingly seeking to include chapters with regards to environmental norms under the FTA negotiations.

Government officials further said that sustainable textiles is a dominant theme of all initiatives of the textiles ministry and that sustainable textiles are not a choice anymore.

"A special space for recycled and upcycled products on GeM Will be provided. Schemes like National Technical Textile Mission (NTTM) may be utilized for sustainability in technical textiles. Certification of sustainable and handmade goods is necessary to develop a future ready and recession proof industry," an official further stated.

The ESG task force would conduct studies on textile waste and sustainability certifications, etc.

During March 23, Indian Textiles Exports registered a degrowth of -21.25% over the previous year and Apparel Exports registered a degrowth of -16% during the same time period due to slowing demand from the western countries.

Cumulative Exports of Textiles and Apparel during April 22- March 23 have registered a degrowth of -13.88 % as compared to April 21-March 22, official data showed.

Saurashtra Tamil Sangamam (STS) is being organized through various programmes at Somnath, Dwarka and Statue of Unity (Gujarat) during the month of April 2023, to recall, relive and promote age-old ties and cultural associations between Saurashtra and Tamil Nadu, an official statement said.

As part of 'Saurashtra Tamil Sangamam', the Ministry of Textiles organized an expo at Somnath showcasing an exquisite range of handloom and handicraft from the States of Tamil Nadu and Gujarat through 65 dedicated stalls.

Catch all the Business News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.

MoreLess
First Published:22 Apr 2023, 07:35 PM IST
Business NewsNewsIndiaGovt to set up task force to address environmental concerns in textiles

Get Instant Loan up to ₹10 Lakh!

  • Employment Type

    Most Active Stocks

    Tata Steel share price

    159.65
    03:55 PM | 10 OCT 2024
    0.65 (0.41%)

    Tata Power share price

    465.50
    03:58 PM | 10 OCT 2024
    4.6 (1%)

    Bharat Electronics share price

    286.85
    03:59 PM | 10 OCT 2024
    4.35 (1.54%)

    Tata Motors share price

    928.85
    03:59 PM | 10 OCT 2024
    -10.3 (-1.1%)
    More Active Stocks

    Market Snapshot

    • Top Gainers
    • Top Losers
    • 52 Week High

    CG Power & Industrial Solutions share price

    842.05
    03:55 PM | 10 OCT 2024
    39.6 (4.93%)

    Page Industries share price

    44,249.50
    03:29 PM | 10 OCT 2024
    346.45 (0.79%)

    HCL Technologies share price

    1,810.00
    03:49 PM | 10 OCT 2024
    -0.1 (-0.01%)

    Tech Mahindra share price

    1,620.30
    03:52 PM | 10 OCT 2024
    -38.4 (-2.32%)
    More from 52 Week High

    Lupin share price

    2,157.60
    03:29 PM | 10 OCT 2024
    -126.6 (-5.54%)

    Home First Finance Company India share price

    1,243.60
    03:29 PM | 10 OCT 2024
    -62.65 (-4.8%)

    Ambuja Cements share price

    585.45
    03:47 PM | 10 OCT 2024
    -22.3 (-3.67%)

    Phoenix Mills share price

    1,665.80
    03:47 PM | 10 OCT 2024
    -63 (-3.64%)
    More from Top Losers

    Hitachi Energy India share price

    15,958.00
    03:59 PM | 10 OCT 2024
    1405.45 (9.66%)

    Mazagon Dock Shipbuilders share price

    4,431.10
    03:55 PM | 10 OCT 2024
    344.95 (8.44%)

    Elecon Engineering Co share price

    701.60
    03:53 PM | 10 OCT 2024
    46.15 (7.04%)

    Usha Martin share price

    366.25
    03:29 PM | 10 OCT 2024
    23.65 (6.9%)
    More from Top Gainers

    Recommended For You

      More Recommendations

      Gold Prices

      • 24K
      • 22K
      Bangalore
      76,695.00-760.00
      Chennai
      76,701.00-760.00
      Delhi
      76,853.00-760.00
      Kolkata
      76,705.00-760.00

      Fuel Price

      • Petrol
      • Diesel
      Bangalore
      102.86/L0.00
      Chennai
      100.75/L-0.10
      Kolkata
      104.95/L0.00
      New Delhi
      94.72/L0.00

      Popular in News

        HomeMarketsPremiumInstant LoanMint Shorts