September 2, 2016
The emergence of India
Over the past couple of years we have witnessed India become a global powerhouse for producing goods. Due to its access to vast amounts of raw materials including cotton, coupled with low labour cost and an embedded textile tradition India will continues to grow in strength as a suppler.
The Indian government’s policy of attracting Foreign Direct Investment has also allowed for significant improvement and access to greater technology. By being increasingly open to trade, with free trade agreements under considerations, countries like Australia, Canada and New Zealand will soon be able to reap the benefits of India’s emerging market.
In 2016 India became the 5th largest exporter of leather goods and accessories globally, Australia comes in 9th in the export market, enjoying only 2% of the exports. There is a significant opportunity to develop this sector into Australia.
Make sure your business connects with our extensive representation of Indian manufacturers and suppliers at the International Sourcing Expo as well as the co located Footwear & Leather Show.