India: leather exports will be slow for 2012
20/02/2012
India’s leather sector is expected to achieve an export growth rate of 18% during the current fiscal, but the projected growth for the next fiscal is around 10%, according to Neeraj Kumar Gupta, executive director, of the India Trade Promotion Organisation (ITPO).
The sector’s exports are expected to touch $4.5 billon by the close of this fiscal, up from last fiscal’s exports worth $3.8 billion. However, it would still fall short of the estimated target of $4.7 billion, Mr Gupta said while addressing a meeting held to announce the 17th International Leather Goods Fair (ILGF).
The country’s leather industry is also exploring other markets like Japan, Africa, Southeast Asia, Korea and Latin America, he said.
The West Asian markets are presently influenced by Chinese leather items, which usually are machine-made, said Paresh Rajda, regional chairman of the Council for Leather Exports (CLE).
India’s overall leather market is estimated to be worth $8 billion, with exports constituting around $4.5 billion of the same. Leather shoes and footwear constitute around 47% of India’s overall leather exports, while other leather products constitute around 28% of the same, Mr Gupta said.
About 46 firms are participating in the three-day ILGF, which has been jointly organised by ITPO, CLE and Indian Leather Products Association. Buyers from countries like Cyprus, Germany, Canada, Malaysia, Dubai and Mauritius are also attending the fair.
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