Brand Studio Lifestyle anticipates further ‘Make in India’ and market organisation initiatives in upcoming Budget

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

“The upcoming Financial Budget holds great potential for the fast fashion industry,” said Brand Studio Lifestyle’s CEO Shyam Prasad 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 bolstered our industry to thrive. We hope for the continued support and understanding of the government to further foster economic prosperity. We believe that investments made for an infrastructure to standardise the ecosystem, especially for fabric sourcing, will allow us to move from an unorganised to an organised system. This will in turn help reduce cost fluctuations in sourcing fabrics and maintain the pricing of the final garments.”
 
“Government norms to help regulate pricing will aid the industry in managing product pricing and minimising losses,” said Prasad. “Schemes or subsidies to promote sustainable practices will become crucial to enable our industry to transition towards a more sustainable future. Moreover, a reduction in import duty will level the playing field for Indian players and allow us to compete globally. We also look forward to a minimum GST [Goods and Services Tax] bracket that would significantly help Indians keep up with the dynamic fashion trends and also increase demand for homegrown fashion brands in India. We eagerly await the budget to support our growth and drive our industry forward.” 

Shyam Prasad has a quarter century’s experience in the fields of sales, retail, marketing, and operations. Prasad holds a postgraduate qualification in marketing from the LNJ Institute of Management and specialises in consumer behaviour and large-scale project management. 
 
Brand Studio Lifestyle operates on a house of brands model and its five fashion and lifestyle brands comprise Highlander, Tokyo Talkies, Vishudh, Ketch, and Locomotive. The business aims to curate an assortment of ‘Intelligent Fashion’ for men and women.