Market Inetligence in Textiles (MIT)

Market Intelligence in Textiles

Due to onslaught of the RTA, FTA & Multilateral Trade Agreements, the global markets for Textiles and Clothing (T&C) has been increasingly integrated. The competition among the textile exporting countries is also growing. The more openness of market has created challenges in form of both price & quality competitiveness. The country that is competitive will sustain and may enhance its market share, while the less competitive countries may lose their market share. In this scenario, it is necessary to assess the sectoral and product specific issues of Indian textiles in different export destinations to remain competitive in the famous export destinations. There is also a need to analyse the domestic demand of textiles for supporting the trade and industry for taking informed decisions. However, even if the information on production, export, consumption are available, it need to be analysed in systematic and sustained way for supporting the government in its decision making process and trade and industry for further informed decisions.

In order to bridge the information gap in terms of analysis and dissemination, the Textiles Committee has initiated the Market Intelligence in Textiles (MIT)

Main objectives of the MIT

• Create Database on domestic demand of textiles, exports and its tariffs, Non Tariff Measures (NTMs), etc.• Analyze the trends, preference patterns, export and imports, etc for policy decision on all sectors in its entirety.• Suggest remedial measures/ information on change in business environment in domestic segment and international market.• Support through information dissemination and capacity building for augmenting Market Information on export competitiveness and help domestic industry from the onslaught of cheap imports. The activities under MIT are creation of databases which will provide macro level information on all sectors of the T & C on Production, Domestic Demand, Export & Import, Price & its Mechanism, Competitiveness & Competitors, Cost benchmarking, Government Policy Mechanism, Tax Structure, RTAs/PTAs, Infrastructure and Other related issues to the industry stakeholders and policy makers.