The Indian Texpreneurs Federation (ITF) has signed an agreement with Netherlands-based Good Fashion Fund to help textile units in Coimbatore region achieve sustainability goals.

The partnership 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.

An initiative by Laudes Foundation and Fashion for Good, the USD 20 million sustainability-initiative fund aims to support textile manufacturers in India and Bangladesh by enabling them to implement “highly impactful and disruptive innovations that deliver both economic growth and good fashion practice.”

The fund encourages its customers to use safe and recyclable materials, clean and efficient energy, reduce water consumption and waste (water) generation and create better working conditions and fair jobs for workers.

Bob Assenberg, Fund Director, Good Fashion Fund, participated in a panel discussion organised here recently by ITF.

Prabhu Dhamodharan, convenor of ITF, said about half a dozed textile and apparel units in this region are interested in the fund. “They do not have to provide security or margin money and get better visibility for their products by using the fund,” he said.