The Indian leather sector begins the New Year with energy and optimism for growth. Leather and its related products always have predominance in the export arena and in the global market as reflected by the data. According to data published by Directorate General of Commercial Intelligence and Statistics (DGCI &S) India’s export of leather, leather products and leather footwear constituted a huge share of 93.10% in total export of USD 5.69 billion in 2018-19 from Indian leather and footwear sector. Not only this, leather footwear constitutes about 39% in value terms in global import of footwear and 14% in volume terms in the global export of footwear.
With a huge and growing global market, we see very good opportunities for growth in 2020. We expect additional support measures for the sector in the upcoming Union Budget 2020-21 and also in the Foreign Trade Policy which will further catalyze our growth.
Series of events scheduled to be held in Chennai as part of India Leather Week 2020, will augment the growth potential of the industry. Besides opening up new avenues for business, these events will demonstrate new technologies in the leather sector. It is beneficial to participate in international events to build the network and showcase India’s talent globally. We hope you are able to develop long-term business relationships.
The non-leather footwear also has a huge potential for export growth. Considering the non-availability of domestic production base for PU which is the basic raw material for producing non – leather footwear and also high import duty of 20% on this item, CLE has been requesting for providing duty exemption on import of PU at various forums. Besides, CLE is promoting the investments under Make in India/ Invest in India in the non-leather footwear segment, considering its huge potential for growth.
CLE will be organizing the participation of members in major overseas events including the Mipel Fair, Milan, Italy, Feb. 16-19, 2020 (for Leather Goods), Micam, Milan, Italy, Feb. 16-19, 2020 (for footwear) and Poznan Fashion Fair, Feb. 19-20, 2020, Poznan, Poland (for leather, leather products and footwear) ; Asia Pacific Leather Fair and Fashion Access in Hong Kong (March 31- April 2, 2020).
With major domestic and overseas events lined-up in the next two months and with additional support measures of the Government, the leather, leather products and footwear industry aims at good export growth in 2020.