Indian leather exports suffer
With recent turmoil in the global economy, Indian leather exporters are extremely concerned about the future of their businesses.
Although local currency effects have improved, demand has already taken a big hit, and leather firms are worried this can only get worse. Stock is accumulating and some overseas companies have cancelled future orders.
According to some exporters, factories are slowing down production as goods that have already been shipped are often ending up stuck in ports. Some products have also lost value as orders were placed before the rupee fell.
Some have suggested that the current climate is the worst the sector has experienced in 20 years.