IndiaTex

IndiaTex

IndiaTex launched at the event of BHARAT TEX 2024, one of the largest-ever global textile events in India.

  • 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.
  • 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
  • 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


“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)


Practice Question

Consider the following statements:

  1. IndiaTex is a part of One UNEP Textile Initiative, implemented in collaboration with the Ministry of Textiles.
  2. Textiles Grand Innovation Challenge is an important initiative launched by Ministry of Textiles in collaboration with UNEP.

Which of the following statements is/are correct?

 
 
 
 

Question 1 of 1

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