CHENNAI: Unfavourable global market conditions are expected to induce a seven per cent fall in India’s leather exports, according to a senior official from the Council for Leather Exports.
According to P R Aqeel Ahmed, Regional Chairman (South) - Council for Leather Exports, Ministry of Commerce and Industry, the recession-like situation in the global markets has led to the Indian leather industry expecting leather exports to fall seven per cent for the fiscal year 2015 - 16 as compared to the previous year.
“There is growth for exports, as always. But this year the industry has been slow in terms of growth in exports, mainly due to market conditions. Normally we have a growth rate of around 10 per cent. This year however, we expect a drop of around 7-8 per cent,” he said.
Ahmed maintained, however, that there is immense potential and that for FY 2016 - 17, exports are expected to grow by 12-14 per cent.
Ahmed, along with representatives of the International Union of Shoe Industry Technicians (UITIC), was in Chennai for the 19th edition of the biannual International Technical Congress that is set to kick off in Chennai on Wednesday.
The Congress, which is being hosted in India for the first time has as its theme - “Future Footwear Factory” - and will see participation from 403 Indian Delegates and 165 Overseas Delegates from 27 countries including France (22), Pakistan (19), Bangladesh (12), China (13), Mexico (6), Portugal (6), Tanzania (5), UK (4), Italy (4) and Spain (3). Other countries represented are Romania, Austria, Belgium, Brazil, Ethiopia, Hong Kong, Iran, Mauritius, Russia, Sri Lanka, USA and Taiwan.