The global textile industry faces significant challenges due to its linear economic system, resulting in vast amounts of textile waste being incinerated, landfilled, or leaking into the environment. Current business models prioritize high throughput and low recycling rates, exacerbating the issue. This report emphasizes the need for a comprehensive circular economy approach to tackle the global textile waste problem. It advocates for the implementation of mandatory, fee-based Extended Producer Responsibility (EPR) policy to ensure that producers are responsible for the collection, sorting, and recirculation of textile products. The goal is to establish a sustainable system where textiles are reused, repaired, remade, or recycled into new products.