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India’s footwear and leather exports to the West Asia and North Africa (WANA) region grew exponentially by 20% in the first half of fiscal 2022 from April to September. According to the Council of Leather Exports (CLE), a legal entity of the Indian government, the UAE and Saudi markets are leading the trend.
Speaking ahead of the India Footwear and Leather Goods Show 2022 in Dubai, CLE Chairman Sanjay Leekha said it was part of the Indian government’s drive to boost exports in the global market: “We believe that the growth momentum of India’s exports to the region is already poised to be significant. Scaling up, especially in the UAE, where we have implemented the Comprehensive Economic Partnership Agreement (CEPA), and similar trade alliances are expected to be established with other GCC and regional countries in the near future. As for footwear and leather For export, our market share in WANA has increased from the current 3.78% to a higher level this year.”
According to CLE, India’s footwear and leather exports to WANA in the 2021-22 financial year amounted to AED677.3 million (US$180.4 million), out of a total global export of US$4.87 billion.
main market
“In the WANA region, the UAE and Saudi Arabia are the main markets. With 0% tariffs on leather products and footwear under the India-UAE CEPA, this will be a huge game changer for Indian exports and is expected to see massive growth,” says Leekha , adding that events such as India Footwear and Leather Products Expo 2022, an exhibition organized by Dubai-based Verifair, will further pave the way for more exports from India to the region.
India’s footwear and leather exports to the UAE rose by 31.72 per cent to AED387.4 million (US$105.48 million) in the first half of 2022, compared to US$80.05 million in 2021-22. This year’s export to Saudi Arabia increased from US$23.23 million last year to US$28.56 million, an increase of 22.94%.
India Footwear & Leather Goods Expo 2022 will be held on December 13-14, 2022. In fact, the Dubai show will be a huge success considering the overwhelming response from Indian exporters to participate in the show. We are expecting trade visitors from the WANA region as well as European and Asian countries looking to work with Indian exporters. For many participants, the show will be a great opportunity to enter and expand in the Middle East,” said Jeen Joshua, Managing Director of Verifair.
financial support
Apart from trade agreements, the Indian government also provides financial assistance for marketing activities in the Middle East, the CLE chairman said. He said the adoption of sustainable practices in the Indian tanning industry came against the backdrop of growing awareness about the environment and fair trade practices. Most of these tanneries are connected to Common Wastewater Treatment Plants (CETP) which are now being upgraded to maintain the highest environmental standards.
“We are coming out of the pandemic slowdown when exports fell 28% in 2020-21. However, we had a remarkable recovery in the last financial year with an overall increase in exports of 32% and the trend will continue this year as well,” Leekha said, adding that even in markets such as Europe where the economic slowdown has affected trade, marketing activities, continued belief that these downturns are temporary and episodic and likely to grow intact in the near future. — trade arab news agency
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