India anticipates demand-swing from China
31/01/2011
Speaking just before the start of the 2011 India International Leather Fair in Chennai (January 31–February 3), CLE chairman Rafeeque Ahmed said the value of exports could reach $8.25 billion by 2013–14, even though the most recent complete financial year figures show export values of $3.4 billion. He said the export of leather and leathergoods for the first nine months of the current fiscal touched $2.5 billion compared to $2.2 billion over the same period last financial year.
Mr Ahmed said: “The $8.25 billion export target is ambitious but is achievable even if the EU scraps the 16.5% and 10% anti-dumping duty on the shoes imported from China and Vietnam respectively. India’s share in the global leather trade is less than 3% whereas China’s is 22%.”
He said large importers in Europe and in the US are now looking to reduce their exposure to China, and a 10% shift in demand from China to India would provide the industry in India with the boost required.
Mr Ahmed also urged the Indian government to help the industry upgrade tanneries and factories and by extending tax concessions for two more years.
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