India’s leather, leather products and footwear exports have increased by 5.25% during the period April-October, as compared to the same period last year. The information was published by India’s Business Standard and is based on data received from the Council for Leather Exports (CLE).
According to the same source, the manufacturing-based export of leather, leather products and footwear from India increased from £4.43 billion in 2016-17 to £4.50 billion in 2017-18.
The minister of state and commerce explained: "The major reason for the decline in exports is due to external factors, namely, recession in the major market of the EU, to which about 55% of our exports are directed, instability in the Middle-East, stiff competition from polyurethane garments to the leather garments sector, decrease in demand of non-leather footwear in African countries due to the emergence of production centres in those countries, competition from China and a decrease in global imports of finished leather".
According to the World footwear Yearbook’s latest edition, India overtook the US in 2017 as the second largest consumer of footwear: a milestone in Asia’s ascent to prominence in the world market; reflecting strong demographic and economic trends.