The demand for shoes and footwear has risen considerably in the recent years, all over the world. Among them, China has emerged as the largest consumer, followed by India, according to Panaruna Aqeel, Chairman of Council of Leather Exports (CLE).
Leather is an important raw material required to produce shoes, and as a result of this the Indian leather industry has benefitted. According to R Selvam, executive director of CLE, the massive quantities of raw material, durable products and more than sufficient provision of labour is the selling point of the leather industries.
The Chairman of CLE has said that 17.74 billion US Dollars was the total turnover of the leather industry, of which 5.74 billion US Dollars was from exports while the domestic consisted of 12 billion US Dollars. He further added that the leather industry is expecting a 5 to 6 per cent growth in financial year of 2018-2019 even though the industry can potentially achieve even higher levels of growth in future.
Knowing from the fact that United States was one of the largest markets of the industry, Panaruna Aqeel has stated that they are upgrading their production capacities, by the help from the government, under the scheme of Integrated Development of Leather Sector.
The Indian International Leather Fair held from January 31 at which a delegation from Beijing paid a visit. It is as a follow up to the Invest India event which was recently held in China.
Along with this, a raw Material Sourcing meet was also there on 1st February.
A Designers Fair was held on February 1 where 45 designers from eight countries participated.