Environmental non-profit Canopy has stated that infrastructure in India may require an investment of US $ 13 to US $ 15 billion in order to help support and expedite the manufacture of Next Gen fibres. The country has the potential to create more than 10 million tonnes of Next Gen fibres a year, according to Canopy, which feels that it might play a key role in revolutionising and reshaping the textile sector.
A recent report titled Unlocking India’s Next Gen Economy: The Untapped Investment Frontiers in Material Substitution in India’s Textile and Pulp and Paper Industries that was presented at the Prabhav 2024 investment event emphasised this potential. The study describes how India could contribute to the production of low-carbon paper, packaging, and viscose from 100 million tonnes of agricultural leftovers and two million tonnes of polyester-cotton textile waste.
Assisting India in this shift will further Canopy’s goal of igniting 60 million tonnes of Next Gen pulp, paper, and textile production worldwide in the next ten years. The agency calculated that in order to achieve this aim, it would require US $ 78 billion in capital to promote innovation and advance pulp and paper production lines as well as textile recycling facilities. In India, Next Gen development is already receiving some local support from companies such as Anita Dongre and Flipkart. These brands have joined Canopy’s expanding network of partners, all of whom aim to encourage a low-carbon, more circular economy.
