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Dubai / Emirates Business
As the halal movement gains traction, the global industry sets its sights on India’s growing demand for Shariah-compliant goods, particularly cosmetics. Home to the world’s second-largest Muslim population next to Indonesia, India does have one of the world’s most viable halal markets. The personal care sector alone has registered promising sales numbers in recent years. Of the $43-billion total cosmetics sales in 2015, $4.2 billion came from the country’s 170 million Muslims, according to the country’s national statistics and research findings.
HE Mohammed Saleh Badri, Secretary General, of International Halal Accreditation Forum, said: “India, being home to millions and millions of Muslims, is definitely a country that we look forward to working with as we strive to strengthen IHAF. Driven by our mission to unify the global halal industry and break trade barriers , IHAF is ready to support India in bolstering its halal infrastructure.†India has signed its membership with IHAF last year. Keeping the country’s halal industry in sync with the global movement, this development augurs well not only for its flourishing cosmetics sector but also for the national economy.
Entrepreneurs within and outside India are starting to take notice of the viable halal market in India, which is projected to have the biggest Muslim population by 2050, according to projections made by Pew Research Centre. Recently a delegation of Malaysian small and medium-scale enterprises trooped to the country to explore halal market opportunities.