Nigeria's textile industry will benefit from collaboration between India and Nigeria
30 December 2021, Mumbai:
The Indian Chamber of Commerce and Leoht Africa have teamed up to strengthen Nigeria's textile industry's retail sector and establish the country as a prominent hub in the Central and West African market. Leoht Africa is a business strategy and management consulting organisation based in Africa.
The cooperation, according to Bunmi Aliyu, MD of Leoht Africa, intends to create a yearly and sustainable international sourcing platform for businesses to trade and secure orders from corporate buyers and resellers.
During the 2021 edition of the Source Textile and Apparel and Retail Sourcing Fair West Africa Exhibitions, she stated that despite the challenges, the Nigerian retail sector has survived, adapted, and thrived, just as the Global Retail Development Index revealed that Nigeria is Africa's leading retail market, with US $295 billion in retail sales in 2020.
Debmalya Banerjee, Regional Director, Indian Chamber of Commerce, Kolkata, noted that in the past, the textile business in Nigeria was one of the greatest private employers, employing over 1 million Nigerians, and had always played a prominent role in the manufacturing sector.
According to him, Nigeria has the right ingredients to become a leading textile hub in the Central and West African market, including a large vibrant consumer market, a talented and enterprising young population, an appealing geographical location, and the launch of the African Continental Free Trade Area (AfCFTA).
"India, as one of the world's largest cotton growers and textile producers, can assist Nigeria in reviving its textile and apparel sector," he said, adding that India is aiming to boost its technical textile industry and would be willing to collaborate and support Nigeria in this regard.
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