Leather is one of the most widely-traded commodities globally. The growth in demand is driven by the fashion industry, especially footwear, furniture and interior design, and the automotive industry, among others.
The Indian leather industry occupies a place of prominence in the Indian economy in view of its substantial export earnings and growth, besides the fact that it employs 2.5 million people. The export of leather and leather products increased manifold over the past decades and touched US$ 4.86 billion in 2011-12.
India’s leather industry has witnessed robust growth, transforming from a mere raw material supplier to a value-added product exporter. In fact, today, almost 50 per cent of India’s leather business comes from international trade.
- The major markets for Indian leather products are Germany, Italy, the UK, the US, Hong Kong, Spain, France, the Netherlands, the UAE, Portugal and Belgium
- For the period 2007-08 to 2011-12, India’s leather exports grew at a rate of 8.2 per cent, reaching US$ 4.86 billion in 2011-12
- Finished leather registered export revenues of US$ 1,023.21 million in 2011-12, witnessing an increase of 21.6 per cent over exports in 2010-11
- Leather and leather products exports are estimated to touch US$ 8.5 billion by 2013-14