The textile industry is one of global importance, providing high levels of employment, foreign exchange revenue and products essential to human welfare. Traditional business models adopted by textile manufacturers in India are inherently extractive. They are focused on producing in greater volumes over time, in a way that uses more resources and creates more waste. In contrast, circular business models focus on retaining the value of existing materials through perpetual cycles.
A clothing company in the Philippines uses scrap material to make shoes. A technology startup in Ireland allows strangers to swap little-used clothes. There are many such examples of textile giants who understand their responsibility towards the environment. They do everything they can to produce sustainable fashion.
How can textile manufacturers in India level up their circular initiatives?
Every year, Textile Exchange publishes a Material Change Index. It tracks the fashion industry’s progress toward more sustainable materials sourcing. Furthermore, it track alignment with global efforts like the Sustainable Development Goals and the transition to a circular economy. There are some key activities that top performers in the circularity category have in common.
Explore new business models
Circularity touches every part of the value chain and requires a systems-thinking approach. The brands with the strongest circular strategies are developing transformative business models that will help them be competitive in the future. These might include rental models, alternative markets for unsold goods, extended product responsibility and second-life business models. These new models will likely disrupt the way companies make money and so require buy-in and excitement at every level of the business.
Invest in innovation
Textile manufacturers in India can increase their uptake of recycled inputs and explore circular models. For that, there is an urgent need to invest in new technologies that can close the loop efficiently and cost-effectively. In a circular model, there is no waste: all materials are viewed as a resource. A new circular textiles system will require solutions that enable us to recycle textiles back into textiles without degrading quality. Brands leading the charge in this area are investing in research and development and engaging in pre-collaborative initiatives like Fashion for Good.
Circularity is the key to sustainability and every yarn manufacturer in India and overseas have to make it a part of their strategy. Implement the plan effectively and you shall see exceptional growth in business and improvement in your surroundings.
Looking for Recycled & Premium Quality Yarns for your sustainable fashion project? Reach out to Oasis Textiles. You can also follow us on Facebook.
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