CALCULATE YOUR SIP RETURNS

EU and Ministry of Textiles Launch Initiatives to Strengthen India’s Textile Sector

Written by: Team Angel OneUpdated on: Feb 17, 2025, 3:29 PM IST
The EU and the Ministry of Textiles have launched seven projects with a EUR 9.5 million grant to enhance India’s textile sector, benefiting artisans, MSMEs, and farmer-producers.
EU and Ministry of Textiles Launch Initiatives to Strengthen India’s Textile Sector
ShareShare on 1Share on 2Share on 3Share on 4Share on 5

The European Union (EU) and the Ministry of Textiles have jointly launched seven projects to enhance India’s textile and handicraft sector. Announced at Bharat Tex, these initiatives aim to promote sustainability, economic empowerment, and resource efficiency across nine states in India.

EU’s Funding and Sustainable Growth

The projects, backed by an EU grant of EUR 9.5 million (₹85.5 crores), aim to drive inclusive growth and sustainability. Over the next three to five years, they will directly benefit 35,000 individuals, including 15,000 MSMEs, 5,000 artisans, and 15,000 farmer-producers. Additionally, around 200,000 women are expected to gain economic empowerment through these initiatives.

These projects align with the Ministry of Textiles’ “Sustainable Bharat Mission for Textiles” and contribute to the EU-India Resource Efficiency Circular Economy initiative. The funding comes under the EU’s Global Gateway Strategy, with collaboration from Germany’s Federal Ministry (BMUV) and the Ministry of Environment, Forest, and Climate Change, Government of India.

Cultural Preservation and Market Expansion

The initiatives will be implemented in Assam, Andhra Pradesh, Telangana, Uttarakhand, Uttar Pradesh, Odisha, Jharkhand, Bihar, and Haryana. They will focus on enhancing production, branding, and market access for natural dyes, bamboo crafts, handlooms, shawls, and traditional textiles. Key organisations such as Humana People to People India, Deutsche Welthungerhilfe EV, Stiftelsen Varldsnaturfonden WWF, and others will lead the implementation.

With over 45 million individuals employed in the textile sector—60% of whom are women—the projects aim to address environmental challenges such as emissions, energy consumption, and low recycling rates. The launch of the “Textiles’ Toolkit,” in collaboration with GIZ, further supports India’s efforts towards a circular economy.

Conclusion

By integrating tradition with innovation, these projects seek to create a sustainable and competitive textile industry in India. The EU’s commitment to supporting environmentally sustainable practices strengthens its partnership with India in fostering long-term economic and social development.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Published on: Feb 17, 2025, 3:29 PM IST

Team Angel One

Team Angel One is a group of experienced financial writers that deliver insightful articles on the stock market, IPO, economy, personal finance, commodities and related categories.

Know More

We're Live on WhatsApp! Join our channel for market insights & updates

Open Free Demat Account!

Join our 3 Cr+ happy customers

+91
Enjoy Zero Brokerage on Equity Delivery
4.4 Cr+DOWNLOADS
Enjoy ₹0 Account Opening Charges

Get the link to download the App

Get it on Google PlayDownload on the App Store
Open Free Demat Account!
Join our 3 Cr+ happy customers