Leather industry set reach $ 5bn exports

13 Jul '05
1 min read

Chairman of Council for Leather Exports, M Rafeeque Ahmed stated that the leather sector's export is likely to rise by $5.08 billion by the year 2010, with the support of medium term strategic export plan.

Ahmed explained that industry requires continuous average growth of nearly 13.50 percent per year to attain $5.08 billion export target, which will boost India's share in world to 4.5 per cent from the current level of 2.52 percent.

Under the tenth five year plan all the schemes are targeting to triple the production-value to Rs 60,000 crore and doubling the export value to Rs 23,000 crore, at an average growth of 13.50 percent.

The industry is expected to create employment for one direct and indirect jobs by 2010 to the current employment of 2.5 million in India.

The US and most of the European countries sustain to be the key markets for Indian leather goods that account 75 percent of the export growth.

Major European producers are finding it hard to carry on production in China because of increasing wage and power costs.

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