AMBER – ABBS Management Business and Entrepreneurship Review

Sreeanandan ¹, Baranipriya A. ²

Affiliations
1 Acharya Bangalore B School (ABBS), Bengaluru, Karnataka, IN
2 Ramakrishna Arts and Science College for Women, Coimbatore, Tamilnadu, IN

Abstract

The circular economy is a basic alternative to the linear economic framework of take-make-consume-dispose. This linear model seeks to preserve the greatest value of products and materials.The transformation to a circular economy is not only necessary, but also evolving into a social and economic model.Instead, the circular model aims to cut resource inputs to the economy by minimizing the usage of new materials for manufacturing and expanding the lifetime of existing products.The Indian textile and apparel industries are the fastest growing and the most promising areas that fall under the larger textile industry.Implementing innovative business models in the textile and garment industry is thus a difficulty that the industry faces.To comply with the principles of the circular economy, manufacturers, particularly those in quickly emerging industries, will need to establish innovative business models.This study explains the advantages of adopting a circular economy in textile and clothing industry.

Keywords

Circular Economy, Business Models, Environmental Benefits, Textile and Clothing, Zero Waste.

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