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Govt to start textiles trend forecasting this month

Press Trust of India  |  New Delhi 

The government will start "trend forecasting" for textiles sector this month, using commercial intelligence to determine what could be in in near future, as gears up to influence global trends, a top said Wednesday.

Textiles also said the ministry along with export promotion councils was firming up schemes for apparel and made-ups sectors which are WTO-compliant.

"This project has been sanctioned and will be set up around February 26, which basically means that all the commercial intelligence in this sector can be used for forecast the trends in 6 months or a year. This will lead to a big change which is the need of the hour," he told reporters.

"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," he added.

Singh pointed out that was unable to compete in apparel exports because of zero duty access in countries like and

"In the past 1-2 months, we have managed to with the help of the and Revenue (Department). We are trying to take care of WTO-compliance, which is obviously an issue now.

"These things will obviously be added incentives for the exporters which will allow them to compete with the EU and other countries also," he said.

Asked if he was referring to more incentives in the pipeline for apparel sector under the MEIS (Merchandise Exports from Scheme), the quipped "absolutely".

Besides, he said, an innovation and incubation centre is also being set up which will incubate startups in the sector and handhold them to move forward.

Singh said a repository of various indigenous crafts will also be prepared.

On technical textiles sector and speciality fibres, he said the ministry was thinking in terms of joint ventures with other countries, and government to government talks are on.

He said the government will make more announcements in a week's time for the technical textiles sector.

The also said the Remission of State Levies Scheme was being examined for changes and hinted towards a hike in rebates.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, February 13 2019. 22:30 IST
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