Chennai: Export of leather and related products that had seen a decline in past two years, are now hopeful for the revival. The exports in 2016 between April-December were $4,324 million, which rose to $4,388 million for the same period in 2017 due to revival in demand of leather products in the international market.
During addressing the media before the 33rd edition of Indian International Fair to be held in Chennai from Feb 1-3, Mukhtarul Amin, Chairman, Council for Leather Exports, said- ‘The industry expects exports to grow by 3-4 per cent in the next few months and reach 10 per cent growth by the end of this year.’
“While the EU is the largest market for leather goods, the focus has shifted to other markets such as the US,” he continued.
In past couple of years India’s leather exports to US have grown from 8% to 15%. The potential of the market is immense, which Indian leather manufacturers are still left to tap.
The CLE has initiated a tie-up with Footwear Distributors and Retailers of America to boost its market share. Next focus area is Russia which is 12th largest global importer of leather and its products in the world.