Indian Leather Exports Set To Achieve US$4bn Target.

Leather exports from India are on course to achieve the set target of US$ 4 billion for the current fiscal 2011-12, fixed by the Council for Leather Exports (CLE).

In line with the export target, the country’s leather sector exports grew at a year-on-year rate of 27 percent to US$ 2.3 billion during first half of the current fiscal.

In fact, spurred by the growing demand from new markets like the Middle East and Latin America, India’s leather exports jumped 30 percent year-on-year to US$ 380 million in September 2011.

The significant growth in leather exports has been witnessed in spite of sluggish demand from conventional markets like the EU and the US, which account for about 80 percent of India’s total leather exports.

With a rise of 55 percent year-on-year, leather garments topped the industry’s export list in September 2011, while footwear components, leather goods and finished leather followed next with a rise of 36 percent, 28 percent and 18 percent, respectively.

During 2010-11, India’s leather exports grew by 13 percent year-on-year to US$ 3.8 billion.

Source : fibre2fashion.com