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Leather footwear exporters optimistic of turnaround
23
Nov '09
Exporters and manufacturers of leather and its products are optimistic that there could be a turnaround in exports of leather footwear in the next two months as effects of the global recessionary trends are tapering away.

According to them, leather footwear and bag exports slowed in July-September, mainly due to the delayed effects of the global financial meltdown and in the period July-September, leather footwear exports stood at $56.22 million, down 3 percent year-on-year.

Leather bag and purse exports though were not able to cross the export targets set by the government during the same period, but grew to $4 million, up 5.56 percent from a year ago. These products had recorded a growth of more than 90 percent in the April-June period.

Experts from the sector say that although exports were satisfactory till three months back, it fell in September, mainly due to the delayed effects of global recession on demand for luxury leather fashion accessories.

To face the challenges head-on, the leather trade bodies are demanding that the government should announce incentives and subsidies to tide them through the difficult times.

Fibre2fashion News Desk - India

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