India's Leather Sector Eyes $47 Billion Target by 2030 with Major Reforms and Initiatives

The Council for Leather Exports targets $47 billion by 2030, backed by trade reforms and government initiatives. Key changes include duty reductions and financial support for MSMEs. The Delhi International Leather Expo 2025 will showcase innovations, aligning with 'Make in India' and 'Atmanirbhar Bharat' to enhance global market presence.

The Council for Leather Exports (CLE) has set an ambitious target, aiming for a $47 billion milestone by 2030, focusing heavily on the export sector with a $13.7 billion goal, according to CLE's chairman, Rajendra Kumar Jalan. This target aligns with India's push to strengthen its global market footprint.

The Delhi International Leather Expo (DILEX) 2025 will be held on February 20-21 at Yashobhoomi, ICC Dwarka, New Delhi, and is designed as a key B2B event. It will provide a stage for manufacturers to exhibit their latest innovations to international buyers, supporting the 'Make in India' and Atmanirbhar Bharat initiatives, boosting exports and employment.

In a move to revitalize the industry, the government has slashed the Basic Customs Duty on wet blue leather from 10% to zero, and removed the export duty on crust leather. Additionally, a special package for the footwear sector is set to generate significant economic growth, creating 22 lakh jobs and boosting exports to Rs1.1 lakh crore, underpinned by a new Focus Product Scheme.

To bolster MSMEs, investment and turnover classifications have increased, while the credit guarantee coverage has doubled, paving the way for Rs10 crore in credit and unlocking an extra Rs1.5 lakh crore. Customized financial tools and support for SC/ST women entrepreneurs further reinforce inclusive industry growth.

An Export Promotion Mission will soon launch, setting specific targets for sectors. BharatTradeNet (BTN), a new streamlined trade platform, will improve trade documentation. CLE has acknowledged the government's unwavering support in addressing industry challenges through these proactive reforms.

The collective efforts are expected to propel the leather and footwear sector to global prominence. With reforms and financial assistance aptly addressing industry needs, the CLE remains a driving force for growth, adapting to the evolving global trade landscape with the 'Make in India' and 'Atmanirbhar Bharat' initiatives at its helm.

Industry leaders, including Rajendra K Jalan and Vimal Anand, emphasize that the government's proactive measures in granting duty cuts and ensuring financial backing for MSMEs are integral to the sector's elevated global standing, promising extensive growth and competitiveness ahead.

(With inputs from agencies.)