Keeping in view the growing scope of business potential in US, especially for leather garments and leather goods and accessories, Council for Leather Exports (CLE) has decided to hold a two day buyer-seller meet in New York in October 18 and 19, 2010.
The buyer-seller-meet to be held in association with Indian Mission in the US, would focus exclusively on leather garments and leather goods and accessories.
According to CLE officials, US is the world’s largest market for leather garments and leather goods and accessories. As per published figures, in the year 2008, USA imported leather garments and leather goods and accessories to the tune of $ 4,103.35 million. And it is continuously growing at a cumulative annual growth rate of 1.25%.
India’s share in exports of different categories of leather garments and leather goods and accessories to the country has been growing consistently. As per the numbers available, it has increased from $ 159.22 million in 2004-05 to $ 177.22 million in 2008-09.
?However, our share in US’s overall import of both categories of leather products is only to the tune of 4.32%. This only drives home the point that there is immense market potential to further enhance India’s export of these two product categories to the US market in the coming years?, they said.
India has inherent strength in terms of availability of right kind of raw materials, skilled workforce and institutional support towards human resource development, design development etc. And the industry is also taking all possible measures to import raw materials from other international markets to manufacture products suitable to the market specifications, they added.
Since US offers enormous market potential, the council has implemented a Focus US Marketing Programme since 2002 with the prime objective to further promote India’s export of leather products to the US market.
India’s sustained presence in the US market, backed by substantial advertising and publicity has culminated in an increasing awareness of India’s potential among US leather product buyers.
In fant, during the financial year 2009-10, the council organized an exclusive buyer-seller meet in New York, focusing on both the product categories during January 18-20, 2010. 23 members participated in the event and displayed their latest designs and product collections.