About VisioNxt Initiative:
- It is India’s first-ever trend insights and forecasting Initiative.
- It was conceived and established at NIFT Delhi (Creative Lab) and NIFT Chennai (Insights Lab) with the support of the Ministry of Textiles, Government of India, in 2018.
- The initiative, now centralized in Chennai, focuses on delivering trend insights and forecasting for the Indian fashion and retail market.
- It also offers various trend-related consultancy services, academic courses, workshops etc.
- Its mission is to identify, map and analyse geo-specific trends, reflecting the positive plurality, cultural diversity and socio-economic nuances of India while collating comprehensive trends and insights.
- It combines AI and EI to generate fashion trend insights and forecasts.
- Significance:
- India's entry into the forecasting space offers multiple advantages: it reduces dependence on global forecasting agencies, provides unique insights into Indian fashion consumers, integrates India’s strength in information technology with textiles and combines artificial and human intelligence.
- To support weavers, manufacturers, retailers, domestic businesses, homegrown designers and fashion brands, this report is available in Hindi and English through the VisioNxt portal.
- The initiative empowers users to design, produce and launch consumer-focused, targeted collections for this diverse nation ‘Paridhi’ will mark the launch of the first inclusive fashion trend forecast by VisioNxt, along with a web portal to disseminate India-specific fashion trends.
- VisioNxt has achieved this through the development of a unique prediction model known as "DeepVision," designed to decode patterns and interpret fashion trends in India.
