Leather Exports

Revenues of Indian leather and allied product firms will decline by 10-12 per cent this fiscal following the steep 50 per cent tariffs imposed by the US, a report by Crisil Ratings said on Thursday. The US is a major market for domestic leather players. Given the significant export concentration, companies would witness a decline despite a moderate improvement in domestic demand following the rationalisation of Goods and Services Tax (GST), besides other favourable macro-economic factors such as lower income taxes, benign inflation, and low interest rates, it said. "The leather and allied products industry in India will see revenue decline 10-12 per cent on-year this fiscal as the 50 per cent tariff (25 per cent reciprocal tariff plus 25 per cent penalty for purchase of Russian oil) imposed by the United States will slash export volume," it added. The leather and allied products industry is estimated to have logged a revenue of about Rs 56,000 crore in fiscal 2025, and exports ...

The 50 per cent tariffs imposed by the US on India have led to order cancellations and factory shutdowns in the leather sector, particularly affecting small tanneries

"The new policy will aim to double the size of the UP leather industry in five years," said a senior state government official

The Budget announcement for rolling out of a focused product scheme for footwear and leather sectors will help enhance productivity, competitiveness and exports by over Rs 1.1 lakh crore, CLE said on Sunday. The Council for Leather Exports (CLE) said the scheme will support design capacity, component manufacturing, and machinery required for the production of non-leather quality footwear. "The scheme will support thrust areas like design capacity, component manufacturing, and machinery required for production of footwear and products," CLE Chairman Rajendra Kumar Jalan said, adding that the scheme is expected to facilitate employment for 22 lakh people, generate turnover of Rs Rs 4 lakh crore and exports of over Rs 1.1 lakh crore. He added that it will also enhance production and productivity by attracting investments and will strengthen the component and machinery ecosystem of the sector. CLE Executive Director R Selvam said the proposal to remove 20 per cent export duty on crust

Da Milano was established in 1989 by Surinder Malik. Set up as a leather product exporting firm, the brand has expanded to sell leather accessories through 79 exclusive stores

Apex body for leather and footwear exporters CLE has asked the government to formulate a national policy for the sector with a view to attract investments, boost India's shipments and create jobs. In a letter to Niti Aayog CEO BVR Subrahmanyam, Council for Leather Exports (CLE) said that though there are schemes and support measures at central and state levels, there is a need for holistic development of the entire sector through a national policy. The elements of the proposed policy, it said, can include incentives for setting up of manufacturing units, training of workers, support measures for adoption of sustainable technologies and innovative products. "This policy should cover the entire supply chain of the sector, starting from raw materials to finished products, including processing, product development, marketing, supply chain management, and backward integration," the council said. Explaining the importance of the policy, CLE Executive Director R Selvam said that the secto

Leather products exporters have also expressed resentment over the hike in the GST from 5 per cent to 12 per cent on finished leather

UP is among India's top producers and exporters of toys, leather goods, and textiles in the country

Kolhapuri Chappals alone can achieve $1 billion exports target, says Minister of Commerce and Industry

Leather exports plummeted in the first quarter, following lockdowns and restrictions in importing nations.

Though they have very few orders in hand right now, they are pinning hopes on leather units catering to the defence sector and police for safety shoes

Uttar Pradesh green watchdog has now allowed the conditional opening of tanneries

On the capital issue, he said cost of capital is high in the country and it is difficult to get finance from the banking system

STOCKHOLM (Reuters) - H&M, the world's second-biggest fashion retailer, said on Thursday it had stopped purchasing leather from Brazil for the time being due to environmental concerns highlighted by Amazon wildfires.

Exports from the sector have declined by 4.90 per cent during AprilJune 2019, primarily due to reduction in exports to Europe, which is the major market, accounting for about 53 per cent of exports

As the sector holds huge potential both for manufacturing and exports, "we need support from the government," he said

Industry would require an additional working capital of Rs 3,200 cr under the new tax regime this year