Get All Access for $5/mo

Trends In the Textile Industry The textile business, like the rest of the world, is adjusting to new demands by implementing new methods of production. The demand for natural fibers like cotton, silk and linen has increased exponentially. Most of this comes from a new generation of customers who are willing to pay more for sustainability

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Freepik

Sustainability and recycling are overarching themes for the future of business, as is evident from the amount of attention paid to them in the news cycles as well as global governments.

The industry segment is expected to see a contraction at least until 2024. India's $200 billion textile and apparel industry is facing a crisis as consumers in Europe, U.S and other big markets for Indian manufacturers have cut spending on clothing, as inflation is on rise and effects of the Ukraine war cause more hardships. COVID restrictions in China have also been among contributing factors. Returning to normalcy will take some time, likely by 2025.

The textile business, like the rest of the world, is adjusting to new demands by implementing new methods of production. The demand for natural fibers like cotton, silk and linen has increased exponentially. Most of this comes from a new generation of customers who are willing to pay more for sustainability. This is a good thing, as it is the demand that will drive organisations to become more sustainable, apart from regulation. According to a report by the UN, "Every second, the equivalent of one garbage truck of textiles is landfilled or burned. If nothing changes, by 2050 the fashion industry will use up a quarter of the world's carbon budget."

Issues like responsible manufacturing, recycled thread clothing, lower usage of electricity, sustainable and eco-friendly clothing lines, lower water usage, and zero-discharge manufacturing are some of the issues that concern the industry. The Government of India is pushing textile manufacturers to have zero-discharge plants so that less pollutants are let out into freshwater bodies. This will bear fruit, but over time as organisations adapt to the mandates. The timeframe for this has been fixed for 2030.

Another key issue that the industry is grappling with is the usage of coal for boilers. A reduction in carbon footprint requires the phasing out of coal energy, but cleaner alternatives are expensive. Textile players have asked for alternate sources and technology like gas to be provided at subsided rates, else the added costs will have to be passed on to consumers.

A step in the right direction to minimize pollution and advance sustainability is traceability -- the ability to track and trace the entire life-cycle of the product from raw material and final good to consumption, disposal and recycling. If major players adopt such practices, the industry's efficiency could improve, ensuring constant supply of quality material and better risk management.

Circularity is another critical issue from a sustainability perspective. Recycling a garment helps in reducing GHG emissions, saves resources and helps maximize economic, social and environmental benefits.

Countries like China and those in Europe have a policy to recycle textile waste. India does not have such a policy yet, and a suitable policy where the Indian textile industry can contribute in advancing energy transition commitments and recycle textiles is need of the hour.

It is expected that by 2030-2035, most of the organised sector textile manufacturers will be employing a sustainable model of doing business. Tamil Nadu could become a model state for this industry – most of the manufacturers in the state use 100 per cent green energy, and have implemented zero liquid-discharge in processing. They also have PET recycling plants, use waste from spinning processes to make yarn and fabric, produce 100 per cent PET-recycled textile products for apparel, use garment cutting waste recycling to make new clothes, house their plants in green-certified buildings, and so on.

Raghunath Mannil Balakrishnan

CEO, Mafatlal Industries Limited

News and Trends

Ted Sarandos, Netflix Co-CEO, says, 'Heeramandi: The Diamond Bazaar is our biggest drama series to date in India'

As the SanjayLeela Bhansali-created web series Heeramandi: The Diamond Bazaar made a huge contribution to the second quarter 2024 earnings of Netflix, the company highlighted the show that celebrates a true-blue Indian story

Business News

Want to Start a Business? Skip the MBA, Says Bestselling Author

Entrepreneur Josh Kaufman says that the average person with an idea can go from working a job to earning $10,000 a month running their own business — no MBA required.

Leadership

Your Definition of Leadership Is Outdated — Here's How to Be a Better Leader in the Modern Workplace

In my nearly thirty years as a leader, I've focused on setting a clear vision and empowering my team to achieve our goals. We prioritize establishing shared objectives while allowing for flexibility when needed.

Starting a Business

They Showed Up to Apple With a Product They Built in Their Dorm Room. Now These Entrepreneurs Are on the Way to Changing the Way Fans Watch Sports.

How Rahat Kulshreshtha and Gaurav Mehta launched Quidich Innovation Labs, technology that is literally changing the game of sports viewership.

News and Trends

Cyber Attacks on Indian Organizations Surge 46% In Q2 2024: Report

Indian organizations must build robust cybersecurity mechanisms to protect their infrastructure. Failure to do so can lead to the loss of large data sets, significant capital, and sensitive credentials, including banking, healthcare, and military data

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.