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Leather exports recovery in India receives jerks
Aug '10
Once again the revival process for leather exports has come to a halt, as shipments in June fell year-on-year by 3 percent to Rs 12.66 billion, joined by the weakening euro, which is acting as a wet blanket.

Leather export sector in the country, which is a source of livelihood for over 2.5 million people, accounted for Rs 13.07 billion during June 2009.

Now, though the situation is getting better, but oscillations in the value of currency still remain as a matter of utmost concern for the industry.

Of total leather exported from India, around 60 percent goes to Europe, which for the last financial year came to Rs 161.35 billion.

Since January this year, euro in terms of rupees declined by around nine percent. This downturn of the currency was attributable to the economic slump experienced by some of the European countries like Greece, Spain and Portugal. On similar lines, leather exports too recorded a fall in 2009-10 on account of global crisis.

Nonetheless, on a low base of the previous financial year, shipments did get better during the initial two months of the year. Leather exports, then increased by 29 percent in terms of dollar during April-May. Though, this revival could not sustain for long as exports once again declined in June.

Moreover, where some of the segments including finished leather and leather goods depicted an upward move during June, few others like saddler and harness declined.

Fibre2Fashion News Desk - India

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