Exports of Indian leather and footwear sector to touch $6 billion this fiscal

On the back of good growth momentum, the Indian leather and footwear sector in the current fiscal is estimated to account for exports of nearly $6 billion as against $5 billion in the previous year, says Sanjay Leekha, Chairman, Council for Leather Exports.

While announcing the 36th India International Leather Fair that is scheduled to be held in Chennai from February 1 to 3, he informed, “Our target is to reach around $14 billion exports by 2030,”

Exports of leather, leather products and footwear have registered a ‘substantial’ growth this fiscal, reaching $4.25 billion during April to December. With a huge growing global market, the opportunity is good for the industry. As buyers look for an alternative to China, India is well positioned to capitalise on this opportunity. “Buyers are looking at India as a major and reliable supplier of value added products,” he said.

“In the last two years, the industry suffered huge losses due to the Covid pandemic. However, we bounced back strongly and achieved the pre-Covid levels. We will do better than the government’s target,” he added.

Speaking on the annual international leather fair, which is taking place after almost two years due to the pandemic, Leekha said the fair will display the entire range of products relating to the leather industry. This includes raw material, finished products, machinery, chemicals and components.

It will be a platform not only for sourcing but also understanding the latest trends in technologies. Over 400 domestic and overseas companies are expected to participate in the event. The fair will also have exhibitors from 16 countries, including China, Brazil, France, Germany and Italy, he said.

Source: The Hindu Business Line

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