Date:20/02/2005 URL: http://www.thehindubusinessline.com/2005/02/20/stories/2005022000740500.htm

Back Texprocil to open US office in April

G. Gurumurthy

Coimbatore , Feb. 19

THE Cotton Textiles Export Promotion Council (Texprocil) is setting up a representative office/showroom in the US. The office, to be set up in New York, will be in place by April.

Texprocil sources told Business Line that India is keen on tapping the US market, especially for cotton made-ups. And the New York office is intended to serve as the single-point service centre for exporters who want to reach out to the US market, which accounts for 20 per cent of of India's textile exports.

Though the council will invest its own funds in the showroom, it has also placed a proposal before the Commerce Ministry to support the proposal under the Ministry's market access initiative (MAI) scheme.

It is also working out a suitable revenue model to manage the outfit, with individual Indian exporters having to subscribe for the customised marketing services to be rendered by the New York centre.

Besides servicing the North American market, the office will also explore market potential for Indian goods in South American countries as well. The council has also submitted a proposal to the Commerce Ministry to start a design studio for textiles, along with its proposal for a textile intelligence centre under MAI as data collection and product development would be crucial while tapping new markets. Starting a design studio as a stand-alone venture, according to sources, makes sound commercial sense and the Centre could encourage venture capital to this project.