New Delhi: Leather and footwear exports from India are expected to grow by over 12 per cent to $5.3 billion in the current financial year. Council for Leather Exports (CLE) Chairman Rajendra Kumar Jalan said this.
‘Our exports were USD 4.69 billion in 2023-24, and this fiscal, we are expecting it to increase to USD 5.3 billion. Order books are good for the coming months. The sector has the potential to reach a total turnover of USD 47 billion by 2030, which includes the domestic production of USD 25 billion and export turnover of USD 13.7 billion,’ Jalan said. He also said several global companies, including from the US and the UK, are showing keen interest in setting up manufacturing bases in India.
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The Indian leather industry is labour intensive and is providing employment to about 42 lakh people. The sector has a total turnover of about USD 19 billion, which includes exports of USD 5 billion.
He also requested the government that the Production-Linked Incentive Scheme (PLI) be extended to the sector as it will help achieve the USD 47 billion export target and create additional jobs for about 7-8 lakh people.
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