According to a report by the Press Information Bureau, India is now the second-largest producer in footwear, second-largest exporter in leather garments, fifth-largest exporter in leather goods, and third-largest exporter in saddlery and harness in the world. The country has also been identified as one that will be driving global growth for exports over the next decade.
The Indian leather industry is growing in leaps and bounds, with its advantages including 20% of the world’s cattle and buffalo; skilled manpower that can easily access new technology due to their open-mindedness towards innovation. The country also has strict environmental standards which keep up compliance across all sectors from production through consumption.
The sector has also seen a sharp rise in its share value with many international firms investing in this lucrative market. Collaborations between various stakeholders including government agencies, business leaders, scientists, entrepreneurs, designers, and retailers will be key to sustaining this growth trajectory for years.
This followed the general trend where India’s exports of leather and leather products soared in 2021. In just two months, from April to May 2021, India exported US$641.72 mn worth of these goods.
This is a fourfold increase from the previous year when they only exported US$146.79 mn worth during this same period. One reason for this dramatic increase could be that India has been trying to diversify its trade portfolio by promoting more exportable products through different channels such as e-commerce platforms like Amazon, Alibaba, or eBay.
These new avenues are proving successful with Indian exporters seeing their goods go all over the world including the United States, the United Kingdom, and even Australia. These emerging trade avenues are also helping small and medium scale companies enter foreign markets by using them as a launchpad to go international.