India’s leather export revenue rises 8% in 2018-19

  •  India
  •  May 01, 2019
  •  By WFB Bureau
  • 2221 Views
India’s leather export revenue rises 8% in 2018-19

India has witnessed 8 per cent growth in export of leather, leather products and footwear to Rs. 36,562.34 crores during financial year 2018-19. Last year, the export revenue stood at Rs. 33,894.71 crore.

Despite decline in export of finished leather and leather garments, overall leather exports performed well due to other segments such as leather footwear (8.98 per cent), leather goods (13.78 per cent), saddlery and harness (10.74 per cent) and footwear components (4.21 per cent).

“Though the exports have grown by 7.87 per cent in rupee terms, it was similar to last year’s level in dollar terms,” clarified P.R. Aqeel Ahmed, Chairman, Council for Leather Exports (CLE).

The leather association is further trying to increase growth rate to 9 to 10 per cent in current fiscal, for which it has planned a ‘comprehensive and extensive’ marketing campaign involving more than 20 events. These events would cover the traditional markets of Europe and potential markets such as Chile and Peru, Russia, Australia and Japan. Besides, reverse buyer-seller meets are planned in Delhi and Kolkata so as to provide a platform for exporters to meet overseas buyers in India itself.

The association chairman Aqeel Ahmed also highlighted that 90 per cent of the leather footwear manufactured is consumed domestically. During current fiscal, nearly 2.4 billion pairs of shoes of domestic and international brands were sold in the country.

“We have become the second largest consumer of shoes after China due to the huge domestic opportunity. USA is in the third position,” said Aqeel.

Image Source: https://thefinancialexpress.com.bd

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