Brand Studio Lifestyle anticipates more market organizing and ‘Make in India’ initiatives in the upcoming budget

the upcoming Union Budget should promote the government’s ‘Make in India’ initiative, promote sustainable practices and contribute to market organization, according to Shyam Prasad, CEO, Brand Studio Lifestyle.

“the upcoming financial budget has great potential for the fast fashion industry,” Brand Studio Lifestyle CEO Shyam Prasad said in a statement sent to FashionNetwork.com via email. “We are grateful for the policies and reforms, including the ‘Make in India’ initiative, that have truly propelled our industry to thrive. We look forward to the government’s continued support and understanding to further foster economic prosperity. We believe that investments made in infrastructure to standardize the ecosystem, especially for tissue sourcing, will allow us to move from a disorganized system to an organized one. This, in turn, will help reduce cost fluctuations in fabric sourcing and maintain the price of final garments.”

“Government rules to help regulate prices will help the industry manage product prices and minimize losses,” Prasad said. “Schemes or subsidies to promote sustainable practices will be crucial to enabling our industry to transition to a more sustainable future. Furthermore, a reduction in import duties will level the playing field for Indian players and allow us to compete globally. We also expect a minimum VAT [Goods and Services Tax] group that would significantly help Indians keep up with the dynamic fashion trends and also increase the demand for local fashion brands in India. “We eagerly await the budget to support our growth and drive our industry forward.”

Shyam Prasad has a quarter of a century of experience in the fields of sales, retail, marketing and operations. Prasad has a postgraduate degree in marketing from LNJ Institute of Management and specializes in consumer behavior and large-scale project management.

Brand Studio Lifestyle operates on a house of brands model and its five fashion and lifestyle brands include Highlander, Tokyo Talkies, Vishudh, Ketch and Locomotive. the company aims to select a variety of “smart fashion” for men and women.