India plans leather meeting in Saudi Arabia
Considering the opportunities present in the Saudi Arabian market for leather products and footwear, India’s Council of Leather Exports (CLE) is proposing to organise a Buyer Seller Meet (BSM) in consultation with the Consulate General of India, Jeddah-Saudi Arabia, scheduled for March 25 and 26, 2012, in Jeddah-Saudi Arabia.
According to the CLE’s observations, Saudi Arabia is a prime market in the Middle East for a variety of consumer and lifestyle products including footwear and leathergoods and accessories. The country has adopted a ‘Look East’ policy, meaning it is keen to increase its imports from Asian countries. This represents an opportunity for Indian exporters of footwear and leathergoods to enter and establish themselves in this market.
India’s exports of leather and leathergoods to Saudi Arabia have already increased from $10.6 million in 2003-04 to $22 million in 2010-11. Out of India’s total leather sector exports to Saudi Arabia, leather and non-leather footwear has a major share of 53% and leathergoods hold a significant share of 35.7%. Hence, there is potential to further enhance India’s exports of footwear and leathergoods and accessories to Saudi Arabia in the coming years.
India also imports raw hides and skins from Saudi Arabia. Its imports have increased from $23 million in the year 2003 to $42.1 million in 2008.
