In the Union Budget 2026–27, the Union Finance Minister announced the “Tex-Eco Initiative” to promote a globally competitive and sustainable textile and apparel sector. The initiative aims to support innovative technologies for the circular economy, including textile waste management, recycling, and value addition, as well as the development of recycled fibres, new materials, sustainable packaging, and other high-value products from discarded textiles, in collaboration with research institutions, Textile Research Associations, Centres of Excellence, industry, start-ups, and other relevant stakeholders.

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