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Number of Indian leather industry has declined by double digits in the last financial year

Number of Indian leather industry has declined by double digits in the last financial year
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India’s leather industry is closing the current financial year from April to March with a 26.39% decline in exports. All departments except Saddlery and Harness posted double-digit drops, losing about one-third of their value.

As per the latest information by the Directorate General of Commercial Intelligence and Statistics, in India, exports of Leather and Leather products for the period April 2020 – March 2021 reached 3 681.58 million US dollars, which compared to 5 070.55 million US dollars in April 2019 – March 2020, a decline of 27.39%.

The segments with the highest decline rates were: Non-Leather Footwear (-31.14%), Leather Garments (31.12%) and Leather Footwear (28.64%). Saddlery and Harness was the only segment with a positive performance, with a 22.94% growth in exports in the period April 2020-March 2021.

The Footwear segment, which includes Leather Footwear (40.35%), Footwear Components (2.37%) and Non-Leather Footwear (5.27%) holds the major share of 50.99% in the total export of leather and leather products with an export value of 1 877.30 million US dollars. This is followed by Leather Goods & Accessories with a share of 25.65%, Finished Leather 10.27%, Leather Garments 8.03%, and Saddlery & Harness 5.06%.

Source: Online/KSU

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