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The National Exhibition of Footwear and Leather Ninth is inaugurated in Colombo

The first pole of the leather and footwear industry Sri Lanka is up - and the eastern province that receive. Meanwhile, Sri Lanka's exports of leather and leather also jumped by a strong 28%!

"We plan to create the first city in Sri Lanka for shoes and leather industry in the eastern province," said Minister of Industry and Trade Rishad Bathiudeen today (3 February) in Colombo .

Minister Bathiudeen addressed the inaugural event of the National Shoe and Leather Fair "17" in the BMICH, Colombo, on the morning of January 3rd. The ninth exhibition of this series, organized by the Ministry of Industry and Trade Collaboration with the Industrial Development Board, the Shoe and Leather Manufacturers Association and Sri Lanka Export Development Board. It is scheduled to be closed on 5 February. In addition to manufacturers from Sri Lanka, 34 Indian companies representing India Confederation of the leather footwear industry India Export Council and the Association of Component Manufacturers India footwear also join the event. India is the second largest manufacturer of leather shoes in the world.

"We welcome the strong Indian delegation to the ninth exhibition of this series. Our exports of footwear and leather goods in 2016 increased by 28% over the turnover from 2015 to $ 140 million, strong growth trends. What we need to understand is that 84% of these exports were shoes.It is expected that the world market for footwear and leather will exceed 600,000 million dollars by 2020. It is estimated that the global footwear market is about 370,000 Million in 2020. It is estimated that the leather products industry will reach $ 247,000 million at that time, in a context of growing "middle class consumption" and the demand for luxury goods in the World wide I think shoes is very promising for the Sri Lanka brand in international markets through a cheap export product. As you increase the middle-income population, it is clear that the demand for shoe design is growing as fast. Although casual shoes lead growth today with more and more people coming in for an active sporting lifestyle demand for sport and sneakers are also driving this growth. As I explained in the exhibition last year the manufacture of sports shoes opening is attractive because of the higher profit margins offered. Given that levels and finish the raw material for sports shoes is lower than fashionable shoes, manufacturing costs are lower offer higher margins of the market. In fact, industry analysts say that sports shoes can give up to 45% of profit margins, the highest in the footwear industry, "said Minister Bathiudeen and added," I ask So again Sri Lanka's manufacturers and exporters to pay more attention to this sector.Provide more established brands.Make aware of the importance of the footwear industry, in addition to supporting this series of exhibitions my department has We are making good progress in setting up a training school for footwear and leather goods at the Sri Lanka Institute of Textile & Clothing Ratmalana, we have invested more than Rs 19 million for this sector. Project from now on.I also obtained Cabinet approval to establish a dedicated Leathergoods complex manufacturing facility in the Batticaloa district at an estimated cost of Rs .450 million.More importantly, we plan to create a City of the shoe and leather industry in the eastern province with the public-private partnership. Since it is important to protect local manufacturers in this sector, we have increased taxes on imports of footwear and facilities introduced for the duty-free importation of finished leather for the manufacture of footwear and leather goods. I urge Sri Lanka's footwear and leather industry to make use of these benefits and to move from strength to strength in their efforts. "

 
 

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