India to deepen trade opportunities in Nigeria’s fashion industry

The Export Promotion Council for Handicrafts in India has stated that plans are underway to increase the volume of business in the fashion industries between Nigeria and India to about $300 million in the next two years.

The Chairman of the council, Prakash Prahladka, stated this on the sidelines at the Nigeria Interior and Gift (IGF) Fashion Expo 2018 organised by Clarion Events West Africa in Lagos.

He said India currently does over $60 million worth of business in Nigeria, expressing optimism in the Nigerian fashion industry due to its huge size and potential.

“We have in our association, more than 10,000 members and more than seven million artisans working and producing lifestyle products for home furniture, house ware and fashion. We have come here to explore the West African and Nigerian market.

“We are doing a business of about $110 million in West Africa and out of that, we are doing $60 million business with the Nigerian importers and in the next two years, we want to raise it to about $300 million. This is the reason why we are here and also to meet people to see what more can be done in a bid to support our Africa trade mission,” he said.

Also speaking at the event, the Event Manager, Bunmi Aliyu, the three days expo is expected to find IGF’s edit of global brands and exciting new talent across home, gift, fashion and ready to wear, with product selections and thoughtfully new lines.

In her words: “From fresh new ranges of favourite brands to exiting new products from brand new faces, this is the place to inspire and to realize your unique vision for 2018 and beyond. Expect stunning new design discoveries in the pavilion this extraordinary talent showcase introduces for the very first time.”

The Deputy General Manager, Turkel Fair Organisation, Serkan Atici, said the trade volume between Nigeria and Turkey stood at $490 million in 2017 with Turkey’s major exports to Nigeria including clothing, food, engine and automobile parts and pharmaceuticals.

He added that Nigeria is now more business-friendly courtesy of the new presidential initiatives.

He said the expo would feature over 16 companies from Turkey to transact businesses with the Nigerian fashion industry, saying the fair would give Turkish companies the opportunity to explore Africa’s biggest market.