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In just two months, export of leather goods from India has seen a 10% jump compared with the previous year.
The Indian government has imposed restrictions on export of raw materials, pushing the industry to export finished products. This has curbed illegal exports and reduced the shortage of raw materials for the national industry.
The government has mandated all exporters to get their goods certified by the Central Leather Research Institute (CLRI), to ensure that only finished leather that has some 'value added' by Indian companies and has qualified guidelines given by the CLRI can be exported. Certification by CLRI was earlier optional, but has now been made mandatory to regulate exports and curb illegal exports of semi-processed leather.
"This, coupled with the depreciating rupee has driven the Indian leather industry to bounce back, with exports growing 10% over the last two months compared to the previous quarter," said M Rafeeque Ahmed, president of Federation of Indian Export Organisations (FIEO).
Source: Times of Indiacomments powered by Disqus