Indian Texpreneurs Federation (ITF) has signed a Memorandum of Understanding (MoU) with Netherlands-based Good Fashion Fund to support textile units achieve sustainability goals.
An initiative by Laudes Foundation and Fashion for Good, the $20 million sustainability-initiative fund is managed by Fount. It aims to create “systemic change in the textile and apparel industry by encouraging mainstream uptake of impactful and disruptive production technologies” said a press release from ITF. It provides five-year Dollar loans to apparel and textile manufacturers in India and Bangladesh to enable them to implement “highly impactful and disruptive innovations that deliver both economic growth and good fashion practice.”