Indian leather industry is looking to boost its exports of leather goods, garments and accessories to the US as it sees vastly untapped potential for Indian products in that country. India’s leather industry is the only segment reporting double-digit growth during this downturn.
US is one of the major markets for Indian leather products, accounting for about 10 per cent of India’s total exports of leather goods of $ 3.59 billion in 2008-09. The US being the largest market for leather products, it imported $25.86 billion worth of leather products, including $4.3 billion worth of leather garments and goods, in 2007. Though Indian industry supplies to major American brands and retail giants like Wal-Mart, India’s present share is just 1.20 per cent in leather import of the US.
The apex body of leather industry, Council for Leather Exports (CLE), points out that since India’s share is less than two per cent, there is a vast potential to further tap the US market, considering India’s inherent strength of raw material, availability of skilled workforce and institutional support towards HRD and design development. Leather garments form a significant segment of the Indian leather industry, which is the fourth largest global supplier of leather garments.
Source : mydigitalfc.com