Time efficient co-composting of distillery and paint sludge industrial wastes with 2:1:1 ratio of water hyacinth, cow-dung and saw-dust in combination with Trichoderma viride, Phanerochaete chrysosporium, Bacillus cereus and earthworms was done. The decrease in MC, TOC and C:N ratio and increase in temperature, TKN, pH, TK, TP was significant. Out of five treatments, DS3 (60% distillery sludge) and DS4 (80% distillery sludge) treatments were stable and matured with C:N ratio of 18.68 ± 1.1 and 14.73 ± 1.12 respectively. Maximum earthworm numbers (26) were obtained in DS1 substrate and maximum cocoons (10) were counted in PS1 substrate. 20% (w/w) vermicompost mixed soil induced the growth in root length (4.6 ± 0.21), shoot length (5.4 ± 0.10) and 90% GI while >20% (w/w) have inhibitory effects on plant growth. Therefore these treatments can be applied in agronomic field as a soil amendment.