India's Leather Exports Poised for Double-Digit Growth

India's leather and footwear exports are projected to grow over 12% to USD 5.3 billion in the current financial year, driven by strong demand from global markets such as the US and UK. The industry, employing around 42 lakh people, aims for a USD 47 billion turnover by 2030.

India's leather and footwear exports are set to soar, with projections indicating a growth of over 12% to USD 5.3 billion this fiscal year. Chairman of the Council for Leather Exports, Rajendra Kumar Jalan, attributes this optimism to robust demand in key international markets like the United States and the United Kingdom.

The industry is attracting significant global interest, with major companies, including those from the US, exploring opportunities to establish manufacturing bases in India. Additionally, Indian exporters are eyeing African markets for expansion, further boosting the sector's growth potential.

Employing approximately 42 lakh individuals, the industry reported a turnover of about USD 19 billion, of which USD 5 billion is from exports. The target is to elevate the total turnover to USD 47 billion by 2030. For this to happen, stakeholders are urging the government to extend the Production-Linked Incentive Scheme to the sector and to reconsider duties on raw and finished leather materials.

(With inputs from agencies.)