10 February 2012
Sri Lanka's Footwear & Leather Fair 2012 in Colombo from February 10 to 12. 25 Indian Firms to Participate
10th February 2012, www.ft.lk
The Indian Footwear Components Manufacturers Association (IFCOMA) is participating in the fourth Footwear and Leather Fair 2012 being organised by the Sri Lanka Export Development Board at BMICH, Colombo from February 10 to 12, 2012.
During this exhibition, twenty-five exhibitors from IFCOMA will be showcasing their products. This is the largest foreign participation in the fair. A special IFCOMA pavilion has been set up for this purpose that will showcase various components and products used in manufacture of shoes and footwear.
IFCOMA is the sole national Association of shoe component manufacturers representing the component sector in India. IFCOMA has long standing relations with Sri Lankan companies. In Sri Lanka, IFCOMA has organised four buyer seller meet in the years 2003, 2009, 2010 & 2011. They also participated in the Sri Lanka Footwear and Leather Fair organised in 2007.
The fair will provide a platform to showcase the talents and capabilities of the Sri Lankan footwear and leather products manufacturers.
The Indian footwear components industry is approximately US$ 100 million in size and has been growing consistently. The Indian component industry marched ahead in last two decades through developments and modernisation of various input products.
The component manufacturers have shaped up their production line to bring highly cost effective and innovative products viz the soles, lasts, fabrics, trims, jute insoles etc of various types to cater to the rapidly growing footwear & leather goods industry which is based on latest fashion trends and demanding innovations in designs and contemporary fashion styles.
Trade and investment cooperation between the two countries has been improving consistently. In 2011, the bilateral trade crossed US $ 4.85 billion which works out to about 16% of Sri Lanka’s global trade. India again emerged as the largest trading partner of Sri Lanka with an over 65% growth in bilateral trade compared to 2010. India is a leading investor in this country and also source of the largest number of tourist arrivals to Sri Lanka.