Textile MSMEs Urged to Embrace Low-Carbon Technologies for Sustainable Future

Experts and government officials have emphasized the importance of adopting low-carbon technologies and increasing financing options for textile MSMEs. A workshop highlighted the need for sustainability to achieve India’s net-zero target by 2070. Efforts to support energy-efficient technologies and partnerships with financial institutions are underway.

Senior government officials and industry experts are advocating for the adoption of low-carbon technologies and enhanced financing options specifically for textile MSMEs to promote sustainability in the sector.

During a workshop themed 'Energy-Efficient Technology and Finance' held on International MSME Day, the emphasis was placed on sustainability as a vital component for helping India achieve its ambitious net-zero target by 2070.

The textile MSME sector in India currently emits an estimated 2.7 billion tonnes of carbon dioxide yearly, comparable to emissions from 230 million passenger vehicles annually. Initiatives like the Perform, Achieve and Trade (PAT) scheme have already made significant impacts, reducing approximately 110.66 million tonnes of carbon dioxide emissions in this sector.

Amita Pandya from GEDA pointed out the agency's steps to encourage energy-efficient technologies across Gujarat's industries. Specifically, they are collaborating with financial bodies like the Small Industries Development Bank of India (SIDBI) to offer interest subsidies to textile MSMEs that adopt these technologies.

Ajit Upadhyay of the Bureau of Energy Efficiency highlighted that Gujarat leads in woven fibre production and contributes significantly to the country's denim fabric production, holding the top national spot and third globally. Siddheshwar Dombe, Assistant Director at the Ministry of Textiles, reiterated the benefits of new technologies in textile weaving and processing, including reduced costs and eligibility for various government schemes.

Subrata Chakrabarty from WRI India warned of the risks posed by climate change to industries and MSMEs globally. He emphasized ongoing efforts to integrate low-carbon technologies into MSMEs and improve their access to finance, aligning with India's climate goals for a net-zero future by 2070.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)