Abstract
Sustainably produced products have moved from the niche to the mainstream with higher rates of growth than of conventional product markets. This chapter examines global trends in sustainability product markets and their implications for the development of the sector in India. It shows how the number and uptake of voluntary sustainability standards (VSS) have been increasing and what factors are affecting this positive dynamic and also sheds light on the origins of VSS. The chapter also provides a brief analysis of sustainability trends in India, lists concerns around VSS, which hinder larger and more efficient uptake of such standards by producers including Indian producers, and concludes with recommendations for making sustainable production practices a norm.
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Notes
- 1.
Sustainably produced products are the ones that were produced with respect to environment, human rights and with economic benefits for local communities and workers.
- 2.
UTZ is a label and programme for sustainable farming of coffee, cocoa, tea and hazelnuts. Its mission is to create a world where sustainable farming is the norm. Source: https://utz.org/
- 3.
Standards Map is one of ITC’s market analysis tools, for the latest information refer to www.sustainabilitymap.org.
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Taimasova, R., Kasterine, A., Lamolle, M. (2019). Global Trends in Sustainable Markets and Implications for India. In: Arora, B., Budhwar, P., Jyoti, D. (eds) Business Responsibility and Sustainability in India. Palgrave Studies in Indian Management. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-13716-8_3
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