GOOD news for the likes of designers Manish Malhotra, Tarun Tahiliani and Ritu Kumar. In a move to revive garment exports, the government has decided to promote Indian designers in the global market. The designers would get monetary support from the commerce department for organising shows in the international market. Initially, about a dozen designers would be given funds, the names to be decided in consultation with the Fashion Design Council of India (FDCI).
On an average, an international show in Milan or Paris costs Rs 70-80 lakh for a single designer. Part of this would be funded by the commerce ministry under the market access initiative scheme (MAIS). “We have released a few crores for designer shows on an experimental basis, and this sum would be increased substantially after seeing the initial response,” an official in the department of commerce said.
FDCI would oversee the proper utilisation of funds. Also, the council would submit to the ministry names of the focus countries for the initiative. Italy, France, the US and UK are expected to be in the list of focus countries. The move has been taken seeing the declining trend in garment exports from India. The textile ministry and the commerce ministry are working together to promote the export of value-added garments instead of pushing just volumes. The move is being taken to preempt any price fluctuation in the international money market. The recent sharp appreciation of the rupee has hit garment export as the industry is more focused on exporting volumes than value-added items, said the official.
“It is good news that the government has realised the benefit of value-added exports, mainly in the ready-made garment sector. Such steps would go a long way in making the country’s presence felt in the international market,” FDCI executive director Sumeet Nair said.
MAIS is an export promotion scheme formulated on focus product-focus country approach to evolve specific market and specific product through market studies and surveys. Under the scheme, the government provides assistance to export promotion organisations, trade promotion organisations, national level institutions for enhancement of export through accessing new markets or through increasing the share in existing markets.