The globalization and the framework of WTO have increasingly being integrated through different mechanisms like RTA, FTA & Multilateral Trade Agreements. The integration has brought about intense competition among the textile exporting countries for enhancing their market share in global trade, which is driven by different factors like production, cost, pricing, quality and policy mechanism, etc. The country that is competitive will sustain and may enhance its market share, while the less competitive countries may lose. There is a need to analyse the factors affecting the global trade in textiles at disaggregate level so as to access the position of a country in the global market in a systematic and sustained way. Further, the information available on key trends are also scatter and require further compilation and analyses. In order to bridge the information gap in terms of analysis and dissemination, the Textiles Committee is preparing a comprehensive database on the different facets of the textiles sector so as to share with the trade and industry and govt. for appropriate policy decision in form of Market Intelligence in Textiles (MIT). It will act as one point reference for the sector on various issues pertaining to the Sector.
The MIT will provide information on Production, Domestic Demand, Export & Import, Price & its Mechanism, Competitiveness & Competitors, Cost benchmarking, Government Policy Mechanism, Tax Structure, RTAs/PTAs, tariffs, NTBs, Infrastructure and Other related issues to the industry stakeholders and policy makers. Efforts are also on to prepare the Textile Competitiveness Index (TCI) for accessing our strength and position in global market. The main objectives of the MIT are
- Provide Real-time Database for the Policy, Industry and Trade
- Analyze the real time impact of policy decision on all sectors in its entirety
- Suggest remedial measures/ information on change in business environment in domestic segment
- Augmenting Market Information for export competitiveness and insulating the domestic industry from the onslaught of cheap imports.
The key stakeholders like manufacturers, trades, exporters, importers, researchers, etc will be the users of this MIT. It will also provide feedbacks to the policy makers for appropriate policy decisions.