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Export of leather products from India grew 13.5% to Rs13,737 crore ($2.3 billion) during the first five months of this fiscal year against the corresponding period a year ago, according to Directorate-General of Commercial Intelligence and Statistics.
Leather footwear clocked a growth of 19.8% at Rs4,685 crore. Shipments of non-leather footwear, such as canvas shoes and slippers made of rubber, jumped 75% during April-August to Rs405 crore, while the footwear components segment grew 36% to Rs624 crore.
China, and South-East Asian nations such as Thailand, Vietnam, Indonesia are ahead in non-leather footwear compared with India because of domestic sourcing of raw material, says M. Rafeeque Ahmed, President, All India Skin and Hide Tanners and Merchants Association.
The segments of leather saddlery and harnesses also grew 40% while in footwear components it was 39%.
Germany remains the top export destination importing 12% more at $304 million during the period while the second-largest importer, the US, raised shipments 20.6% to $255 million.
European countries, the US, and China – which cut imports by 11% – accounted for 76% of the exports.
During 2012-13, exports totalled $4.9 billion. The leather sector is attempting to diversify its market by looking at South-East Asian nations, South America and Africa.
Source: Hindu Business Linecomments powered by Disqus