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Friday, March 04, 2011 - 05.35 GMT |
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India to assist
footwear industry |
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India is to provide assistance to Sri Lanka’s footwear industry, following a request made by the Ministry of Industry and Commerce.
This was disclosed by Minister Baduideen at the fourth Indian Leather Buyer Seller Meet (BSM) held in Colombo recently. He said that Sri Lanka footwear industry imports bulk of its leather requirements directly from Chennai.
According to the Minister, Sri Lanka is working towards early conclusion of the Economic Cooperation Agreement (ECA) between both countries and the Cabinet has appointed an inter-governmental committee to be convened by the Director General of Commerce.
The Minister said that the Sri Lanka’s footwear industry is expected to see a healthy growth after the government had granted vital tax concessions in the last budget. He said that the emerging demand for designer footwear in Sri Lanka appears to be a new trend that Indian sellers can exploit.
The Buyer-Seller Meet and Trade Exhibition of Components, Materials & Leather for Footwear, Leather goods and Upholstery Industries have been organized by the Council of Leather Exports of India. This is the fourth such BSM held in Sri Lanka. In the 2010 BSM held in Colombo, US $ 19,500 worth confirmed orders were received.
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