Ministry of Commerce Senior Secretary Tapan Kanti Ghosh said that he hopes the export target would be possible to achieve by the set time. However, the sector needs to increase the volume of foreign direct investment (FDI).
“We have to emphasize compliance issues also, and improve quality of products for taking the sector to a new height,” Ghos added.
Industry members say that they were hard hit by the pandemic.
The export volume of leather and leather goods reached $1.40 billion in fiscal year (FY) 2015-16. Since then the export volume has been declining, as the tanneries were shifted from Hazaribag to Hemayetpur in Savar in 2016. The declining trend still persists.