T.N.’s textile industry can save over ₹3,000 cr. by transitioning to renewable energy: report
A report indicates that Tamil Nadu's textile industry could save between ₹1,560 crore and ₹3,250 crore annually by shifting to renewable energy. The rising costs of fuel and energy have negatively impacted the competitiveness of the sector, which has seen stagnant exports since 2017. Transitioning to renewable energy is suggested as a way to improve cost efficiency and reduce the industry's significant carbon footprint.
- ▪Tamil Nadu's textile sector can save ₹1,560 crore-₹3,250 crore annually by transitioning to clean energy.
- ▪The cost of production for textiles in Tamil Nadu is rising due to increasing fuel and energy expenses.
- ▪India's textile industry has the highest carbon footprint among major exporting countries, exceeding 12.5 kg CO₂e per kg of textile.
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Tamil Nadu’s textile sector can save between ₹1,560 crore-₹3,250 crore annually by transitioning to clean energy, according to a report by Bengaluru-based think tank Climate Risk Horizons.The report, which largely used data from the Annual Survey of Industries (ASI) from the past decade to understand the status and potential for decarbonisation in Tamil Nadu’s textile industry, said transitioning to 100% renewable electricity can save ₹2,320 crore-Rs. 3,250 crore.Cost of production for textiles in Tamil Nadu is rising mainly because of fuel and energy expenses. “Rising fuel costs are one of the reasons for the declining competitiveness of the State’s textiles, the exports of which have plateaued since 2017 at approximately $ 7.4 billion.
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