The Indian government is planning to initiate ‘trend forecasting’ for the textiles sector from this month to influence global trends. They will be using commercial intelligence to conclude what could in near future vogue, as India is moving fast forward to become an influencer, official sources said. Raghvendra Singh, Textiles Secretary said the ministry together with export promotion councils planning up schemes for garment and made-ups sectors which are WTO-compliant.
Raghvendra said that the project is already sanctioned and will be set up by February 26 which indicates that all commercial intelligence will be using trend forecasting in 6 months or a year in the textiles sector. This initiative will create a big impact as it is the need of an hour, he added.
He said, “We are actually getting influenced by international trends. The kind of punch we have in the textiles sector, it is high time that we became influencers and able to compete in apparel exports.”
The ministry is taking care of WTO-compliance and in the past two months, have managed with the help of the Ministry of Commerce and Industry and Revenue (Department). These things will obviously be added incentives for the exporters which will allow them to compete with the EU and other countries also,” Singh said.
Asked if he was referring to more incentives in the pipeline for apparel sector under the MEIS (Merchandise Exports from India Scheme), the secretary quipped “absolutely”. Besides, he said, an innovation and incubation center is also being set up which will incubate startups in the sector and handhold them to move forward.
On technical textiles sector and specialty fibers, he said the ministry was thinking in terms of joint ventures with other countries, and government to government talks are on. The Secretary said the government will make more announcements in a week’s time for the technical textiles sector.
Singh also said the Remission of State Levies Scheme was being examined for changes and hinted towards a hike in rebates.
– Indian Apparel, Apparel Talk, Apparel and Textile News
