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Leather sector withers under impact of crisis
06
Oct '09
Leather accessories manufacturers and exporters expect to see a revival in export orders only in the winter of 2010. This pessimism stems from the fact that, orders received for the current winter season, did not see any significant change, when compared with that of last year.

Experts speak of a dip of 40-50 percent in orders from the overseas markets, particularly from its biggest buyer, US, since that country is the epicenter and is yet to fully recover from the effects of the crisis.

The leather industry is mainly concentrated in the un-organised sector and innumerable units have buckled and folded up, under the pressure of the slowdown, leading to joblessness in thousands amongst the workers working in the leather sector.

Now, these exporters are waiting to receive orders in August 2010, since that is the time when overseas start placing orders, in time for the leather products to hit the shelves of retailers before the onset of the winter season.

The only saving grace for these manufacturers has been that there has been no significant demand drop from the domestic markets, which have been more resilient than the markets in western countries.

Fibre2fashion News Desk - India

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