Context:
IndiaTex launched at the event of BHARAT TEX 2024, one of the largest-ever global textile events in India.
IndiaTex:
- IndiaTex – A 4-year United Nations Environment Programme (UNEP) project in the textile sector.
- Timeperiod – 2024-2027
- Part of – One UNEP Textile Initiative.
- Objective – Accelerate the transition of the Indian textile sector towards circularity.
- Implementation – In collaboration with Ministry of Textiles.
- Funded by – Denmark’s Ministry of Foreign Affairs.
- Based on 3 key concepts –
- Eco-innovation – Guides Small and Medium Enterprises (SMEs) in incorporating circularity and resilience in the textile sector.
- Product Environmental Footprint (PEF) – PEF measures the environmental performance of a good or service throughout its life cycle.
- Circularity – Based on principles of Reduce, Reuse, Refurbish, Repurpose, Recycle, etc.
- Significance –
- Will improve the textiles sector’s competitiveness and market access.
- Strategic leadership and encourages sector-wide collaboration to accelerate a just transition towards a sustainable and circular textile value chain.
Other significant programs during the event:
- Release of UNEP Report for Sustainable Textile Hub
- Showcase of sustainable initiatives including Kasturi Cotton (a new standard in cotton)
- Announcement for Textiles Grand Innovation Challenge
- An innovation challenge launched by Ministry of Textiles along with Startup India, DPIIT
Textile Sector in India:
- Contribution to GDP – 2.3% of GDP
- India’s status –
- 4% share of the global trade in textiles and apparel
- 5th largest producer of technical textiles in world.
- One of the largest producers of cotton and jute in the world.
- 2nd largest producer of silk in the world
- 95% of the world’s hand-woven fabric comes from India.
Related Articles: RoSCTL Scheme | Technical Textile
Source: PIB
Previous Year Question
“Rapid Financing Instrument” and “Rapid Credit Facility” are related to the provisions of lending by which one of the following?
[UPSC Civil Service Exam – 2022 Prelims]
(a) Asian Development Bank
(b) International Monetary Fund
(c) United Nations Environment Programme Finance Initiative
(d) World Bank
Answer: (b)
