STOCK MARKET BSE NSE

Leather exports close in on pre-Covid mark

Aqeel Ahmed Panaruna, chairman, CLE, said, “The market is showing good signs of recovery month after month.

Published: 03rd October 2020 10:02 AM  |   Last Updated: 03rd October 2020 10:02 AM   |  A+A-

Leather bag

Leather bag

Express News Service

CHENNAI: Aggressive online marketing initiatives and pent up demand has delivered a boost to Indian leather exports. According to the Council for Leather Exports (CLE), leather exports from India in August reached almost 83 per cent of last year’s levels and the CLE remains confident that the industry would have breached 90 per cent of last year’s level by September-end.

Aqeel Ahmed Panaruna, chairman, CLE, said, “The market is showing good signs of recovery month after month. The export performance was about 60 per cent in June 2020 and in July it reached 73 per cent as compared to the same period last year.

Order books are good and we are optimistic of achieving 90 per cent of last year’s exports in September”.
CLE has also undertaken aggressive marketing efforts through the virtual medium over the past few months.

According to the council, it has organised virtual leather fairs, exhibitions and B2B meetings in different countries.

Though India remains a preferred sourcing destination for major markets such as the US and Europe, CLE says it is also trying to attract potential buyers from countries such as Russia, Korea, and Peru. “In the wake of changes in the global trade scenario, there are emerging trade opportunities for us. We are very keen to further expand our presence in the largest market of USA.

We have signed MOUs with Footwear Distributors and Retailers of America (FDRA) and US Fashion Industry Association (USFIA)so as to increase business tie-ups,” said Panaruna. But they remain concerned over a possible second wave of infections. “Autumn-winter is the most important season for us. We expect very good winter sales, if there is no second wave of pandemic,” he noted. Besides sales, the industry is looking at widening investment opportunities too.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp