In India’s textile industry, there exist both mechanical and chemical recycling methods. The fabric recycling structure in India is quite lazy
In 2022, the textile industry emerged as a major contributor to pollution in India, ranking third after plastic and paper waste. This led it to be a significant source of environmental concern, the textile sector witnessed a remarkable increase in investment in waste management and circular economy initiatives.
According to recent data, 17 startups secured a total of USD 83 million across 18 deals in 2022, representing an eightfold increase in just one year. The surge in investment signals a growing demand and supply in the textile waste management sector.
Neha Bhatnagar, Vice President of Partnerships at Impact Investors Council (IIC), pointed out a crucial gap in the industry.
“The gap is not having a proper association that allows you to connect the dots. The government’s vision for Viksit Bharat is to turn India into a developed nation by the 100th anniversary of India’s independence. This is the period, where the government and investors are supporting you. This is where the foreign eyes are focused on India,” she said at Bharat Tex 2024.
The core issue lies in the composition of the government itself, akin to a blend of cotton, polyester, and various fabrics, Janavi (Amrelia) Papriwal, Associate Partner at Circulate Capital highlighted.
“In India’s textile industry, there exist both mechanical and chemical recycling methods. The fabric recycling structure in India is quite lazy. Unfortunately in textiles unlikely platics we do not have EPR regulations. In textiles, there’s no government push and hence all the textiles that at the end of life should be collected just go to the landfills,” she said.
