Leather industry eyeing 5-6% growth in 2018-19: CLE

: The leather sector was expecting to register a growth of five to six per cent in exports in financial year 2018-19, an official from Council for Leather Exports said.

According to CLE, Chairman, Panaruna Aqeel, India is the second largest consumer of footwear after China, globally.

"The total turnover of the industry is USD 17.74 billion with exports contributing USD 5.74 billion and domestic USD 12 billion," he said.

The industry is expecting a growth of 5-6 per cent in exports during 2018-19 in rupee terms though it has the potential to achieve higher growth levels in coming years, he said in a statement.

CLE, executive director, R Selvam said, the unique selling proposition of the leather industry was its huge raw material base, strong products and availability of huge labour.

Noting that the United States was the largest market for the Indian leather industry, Aqeel said, "to tap this market, we are increasing our capacities with the financial assistance of the government under the Integrated Development of Leather Sector."