|
|
 |
 |
| Sunday, 26 January 2003 |
 |
|
 |
Business |  |
| News Business Features Editorial
|
Footwear industry to get boost from Indians The Buyer Seller Meeting (BSM) and Exhibition of the Indian Footwear Components Manufacturers Association (IFCOMA) will be held in Sri Lanka for the first time in the history of the local shoe industry. The BSM cum exhibition will be held from February 5 to 6 at the Galle Face Hotel and will be attended by 20 Indian companies in addition to all footwear manufacturers, traders and importers from Sri Lanka. The chief guest will be Ranjit Fernando, Secretary to the Ministry of Enterprise Development, Industrial Policy and Investment Promotion while Mohan Kumar, Deputy High Commissioner for India will be the guest of honour. The event is organised by the Ceylon National Chamber of Industry in association with the German Private Sector Programme, Industrial Development Board and Sri Lanka Footwear Association. "It is an important event for the shoe industry, since the Government has identified it as an industry which should be supported and brought back to its old glory from the current hopeless situation it has found itself in," a spokesman for the industry said. The last budget introduced a minimum duty for imported shoes and reduced the duty on shoe soles by 15 per cent. "We feel this is a step in the right direction to re-activate the industry," he said. The road show organised by the IFCOMA will help the local industry to capitalise on duty reductions to establish joint venture opportunities as well as establishing links to source raw material needs. India produces around 1,700 million pairs of footwear and is also an exporter to the world's major branded buyers. It has a strong raw materials base for manufacturing of components and accessories. Both footwear and components are produced in different parts of the country and the demand of local footwear manufacturers is met domestically. Institutes like the Central Leather Research Institute, Footwear Design and Development Institute and Central Footwear Training Institute provide technical support and training. The Council for Leather Exports (Ministry of Commerce and Industry) provides all possible support to small and large component manufacturers for promoting their exports. Indian footwear components are accepted by global footwear manufacturers and shoe buyers like Salamander, Adidas, Reebok, Marks and Spencer, Clarks, and ECCO. All leading Indian footwear brands like Red Tape, Oakridge, Liberty, Lee Cooper, Bata and Action are also produced using Indian components. IFCOMA is an association of footwear components and accessories manufacturers and is recognised by the Indian government. IFCOMA, on behalf of its members, conducts marketing activities in and outside India, organises technical seminars and exhibitions, designs and develops components all over India, provides assistance in introducing modern technology as per world standards and upgrading manufacturing facilities as per latest fashion demands and forecasts and develops human resources. It will be mutually beneficial for Sri Lanka and India to build strong business relationships. IFCOMA is organising this Buyers Sellers Meet cum Exhibition of footwear components for the first time in Colombo to create awareness and direct linkages between the buyers and sellers of components and accessories. It is hoped that the BSM would be fruitful and would help local footwear manufacturers by facilitating them to import components and accessories from India, which would save time, transportation costs and other overheads. The trade agreement between SAARC nations should be used to the maximum to strengthen members in fighting competition from South-East Asian countries. Trade development and removal of customs tariffs on imports among SAARC nations should be given due importance in the interest of all, the spokesman said. |
|
News | Business | Features
| Editorial | Security Produced by Lake House |
