Report: Tamil Nadu’s textile industry could save up to ₹3,250 crore annually by adopting renewable energy
According to a new report by the Bengaluru-based think tank Climate Risk Horizons, Tamil Nadu’s textile industry could save between ₹1,560 crore and ₹3,250 crore annually by transitioning to clean energy. The study assesses the status and potential of the industry's decarbonization based on data from the 'Annual Survey of Industries' (ASI) over the past decade.
The report states that if the industry were to switch entirely to renewable electricity, annual savings could range from ₹2,320 crore to ₹3,250 crore. The study notes that rising energy and fuel costs have become a primary factor driving up textile production costs in the state.
Rakesh Ranjan, a co-author of the report, stated that escalating fuel costs are impacting the competitiveness of Tamil Nadu’s textile industry. He pointed out that the state's textile exports have remained stagnant at around $7.4 billion since 2017. According to him, adopting renewable energy would lower costs and strengthen the industry's global competitiveness.
The report also highlights that the total energy expenditure of the state's textile sector has nearly doubled over the last four years. Additionally, there has been an increase in the ratio of fuel costs to production output. The study reveals that India's textile industry has the highest carbon footprint compared to major exporting nations, exceeding 12.5 kg of CO₂e per kilogram of textile produced.
The report suggests that the industry could reduce both production costs and carbon emissions by adopting renewable energy-based electric heating. It also recommends that the state government and electricity regulatory bodies facilitate easier access to renewable energy, particularly for MSME units. This version is more streamlined and edited in the formal style of news writing.
read more :- Haryana Farmers Abandon Cotton Cultivation as Acreage Falls 65% in Seven Years
.jpeg)