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Indian leather exports to grow despite adversities
02
Feb '12
India's leather and leather item exports are likely to touch a record level of US$ 4.5 billion during current fiscal, showing a year-on-year growth of 27 percent, Mr. PR Aqeel Ahmed, Regional Chairman – South, Council for Leather Exports (CLE), has said.

Speaking on the eve of the 27th India International Leather Fair (IILF) 2012, Mr. Ahmed said though the exports are likely to fall short of the US$ 4.7 billion target, the growth is significant, particularly in view of global slump and diminishing value of the Indian currency, which has raised the cost of importing raw inputs.

IILF 2012 is being jointly organized by CLE and the India Trade Promotion Organization (ITPO).

Last fiscal, India exported leather and leather items worth US$ 3.5 billion, with continued focus on high value items, a segment where Indian exporters have earned international recognition, and an eye for new markets.

In spite of the European market being hit by financial crisis, with Government support, the domestic industry will continue with its growth momentum in next fiscal also, and is set to achieve US$ 14 billion by 2016-17, the target set by Government of India, Mr. Ahmed said.

He added that the growth in India's leather exports has resulted from better performance by all product segments, including leather footwear and garments, which registered a 40 percent and 10 percent growth, respectively.

Meanwhile, the industry has also made a transition from being an exporter of finished leather to exporter of finished products, while finished leather now accounts only for a small share, Mr. Ahmed revealed.

Fibre2fashion News Desk - India

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