Leather Sector Growth Declines
According to Council for Leather Exports (CLE), backed by data from the Directorate General of Commercial Intelligence and Statistics (DGCI&S), the sector’s growth has declined. India’s leather and leather products sector’s major export markets are the US (share of 15.36%), Germany (11.65%), UK (10.74%), Italy (6.63%), Spain (5.19%), France (5.10%), Hong Kong (4.70%), UAE (4.01%), China (3.07%), Netherlands (3.00%), Belgium (1.85%) and Poland (1.79%). These countries together account for nearly 73% of India’s total leather and leather products exports.
Exports of leather and leather products to major markets like Germany, UK, Italy, Hong Kong, France, Spain, Netherlands, UAE and Korea Republic have declined in the recent months. Leather footwear exports totalled $2 135.90 million in the fiscal year, declining by 0.56% from the previous year’s $2 147.98 million. In the same period, exports of finished leather declined by 15.06% and leather goods by 3.54%. However, exports for non-leather footwear and footwear components have enjoyed positive growth.