Leather, footwear exports up 25 pc to USD 5.7 bn in 2024-25; may cross USD 6.5 bn in FY26
New Delhi, Apr 21 (PTI) The country's leather, non-leather footwear and products' exports rose by about 25 per cent year-on-year to USD 5.7 billion in 2024-25 and the shipments are likely to cross the USD 6.5 billion mark this fiscal, exporters' body CLE said on Monday.
The Council for Leather Exports (CLE) said that demands in both developed and developing countries are "healthy".
"In 2024-25, we have exceeded the exports target by USD 1 billion set up by the department of commerce and going by this trend, our exports will cross USD 6.5 billion in 2025-26," CLE Executive Director R Selvam said.
He said that the sector is recording growth despite global uncertainties.
Sharing similar views, CLE Chairman Rajendra Kumar Jalan said that the exports are doing good in both the US and the UK, the key export destinations for India.
Due to the 10 per cent tariff hike, all the exporters are giving discounts to buyers, but there were no order cancellations, Jalan said.
"From April 14-15, the situation is normal. We have suggested 'zero-for-zero' duty to the government in the proposed bilateral trade agreement with the US," he added.
Order books are good for the coming months and huge demand is coming from the US and the UK, he said.
He informed that the industry is labour intensive, providing employment to about 42 lakh people. The sector has a total turnover of about USD 19 billion, which includes exports of USD 5 billion.
The sector has the potential to reach a total turnover of about USD 39 billion by 2030, which includes domestic production of USD 25 billion and export turnover of USD 13.7 billion, according to the industry.
The industry also stated that several Chinese investors are keen to join hands with Indian footwear players to set up manufacturing units in India.
First Published: 21 Apr 2025, 01:54 PM IST
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News18
27 minutes ago
- News18
Did Vijay Mallya Blame Pranab Mukherjee For Kingfisher Crash? Big Revelation With 'Rare Apology'
Last Updated: Vijay Mallya, who is facing fraud and money laundering charges amounting to Rs 9,000 crore, offered a rare public apology to his former employees Fugitive businessman Vijay Mallya has made a comeback in national headlines for over a week now. It all began with the beleagured industrialist's post on 'X' after Royal Challengers Bengaluru (RCB) commanded an eight-wicket win over Punjab Kings last night in the Qualifier 1 of the IPL 2025. Netizens were quick to take digs like 'Ghar Aaja Pardesi'. This was followed by Mallya's congratulatory post for RCB after winning the IPL. And to top it all was the podcast with YouTuber Raj Shamani. Soon after the interview, Vijay Mallya was backed by some top names, including IPL founder Lalit Modi and industrialist Harsh Goenka, sparking speculations if the fugitive businessman was planning to return to India. • Vijay Mallya, who is facing fraud and money laundering charges amounting to Rs 9,000 crore, offered a rare public apology to his former employees while addressing the fall of Kingfisher Airlines. 'I would say I am deeply sorry for what happened to them. I would say that I am deeply sorry that some of them didn't get paid their salaries…'I have no excuses to offer. I take full responsibility," the beleagured industrialist said. • Later, in a post on his X profile, Mallya wrote, 'For those who are interested, I have spoken for the first time in nine years on this podcast. I want to say sorry to employees of Kingfisher Airlines and also to set the record straight with facts and the truth." • Opening up further on the downfall of Kingfisher Airlines, Mallya claimed that during the 2008 global financial meltdown, he had approached then finance minister Pranab Mukherjee with a plan to downsize operations. '… 'I was told not to downsize. You continue, banks will support you. That is how it all started…," the businessman said. • Vijay Mallya further dismissed India's claims of 'ease of doing business", calling country's regulatory environment 'extreme". 'There is no ease of doing business in India…It's in the Indian DNA. No matter what a state or federal government may say, there are bureaucratic and political hurdles all along the way," he said. • Mallya's brand 'Kingfisher' is also one of the largest beer-selling brands in India. Talking about the alcohol business in India, the business said he had to maintain favorable relations with 29 state governments, each with its own liquor policy. 'I had to be in the good books of 29 chief ministers," he said. He also described elections as a time of pressure, claiming politicians saw the liquor industry as a cash cow for campaigns. First Published: June 06, 2025, 10:27 IST
Time of India
28 minutes ago
- Time of India
'Call me fugitive but ... ': Vijay Mallya apologises for Kingfisher failure; asks 'where is the chori'
Vijay Mallya appeared in a podcast. NEW DELHI: Vijay Mallya , the prominent business figure, extended an uncommon public apology regarding Kingfisher Airlines ' downfall, whilst firmly rejecting theft accusations and explaining his absence from India. Making an appearance in a lenghthy four-hour podcast with Raj Shamani, Mallya accepted responsibility for the collapse of the airline that once represented his distinctive business approach and said, "I apologise to everyone for the failure of Kingfisher Airlines." During the podcast, Mallya expressed willingness to consider returning to India under specific conditions. "If I have a fair assurance of a fair trail and dignified existence in India, I will think about it (returning to India) seriously." Responding to financial wrongdoing claims, Mallya said, "You may call me a fugitive, but I didn't run away. I flew on a prescheduled visit. Fair enough, I didn't return for reasons that I consider are valid… so if you want to call me a fugitive, go ahead. But where is the 'chor' (thief) coming from? Where is the 'chori' (theft)?" Vijay Mallya Podcast: Rise & Downfall Of Kingfisher Airlines, Loans & RCB | FO364 Raj Shamani The erstwhile businessman faces allegations of defaulting on loans exceeding Rs 9,000 crore, provided to Kingfisher Airlines by several Indian banks. Since 2016, he has resided in the United Kingdom, contesting extradition proceedings. Although a UK court ruled for his extradition in 2018, Mallya continues to oppose his return to India, citing concerns about unfair treatment and trial by media.
Economic Times
30 minutes ago
- Economic Times
Nothing to be negative about in market; bulk deals a pressure point: Sandip Sabharwal
(You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel , says macro-wise, markets look reasonably well placed. What has been pressurizing the market has been the constant flow of bulk deals, etc, which have been pressurizing the markets. Overall, markets are okay and there is nothing to be negative about in the markets. Also, the current chip shortage is being created by China and it is a global phenomenon. So far, two-wheeler companies have been impacted more by tariff issue is well baked into the markets and that is also reflected in the way the global volatility is playing out. In terms of cues, as the result season got over, markets was looking forward to the monetary policy today and the commentary thereof and then how the economic data plays out. So, cues will be limited. If at all, there will be some news flow related to the various trade deals, etc. So, that is something we need to watch out for. Macro-wise, markets look reasonably well placed. What has been pressurizing the market has been the constant flow of bulk deals, etc, which have been pressurizing the markets. Overall, markets are okay and there is nothing to be negative about in the Covid chip shortage was real. This one is being artificially created by the Chinese government because they are restricting the exports while they are readily available. It is not that they are not available for export, they are not being allowed to be exported. So, there is a difference between the two. Whether they have intention of resolving it or not is something we need to see or what is their strategy out here, because finding a replacement or building in technologies to yourself, extract and refine these, will be a time consuming need to see how this plays out. Maybe all these things could just be signed and it could ease out over the next 15 days also or it could get prolonged. From among the companies which have indicated issues, the two-wheeler EV companies have been more vocal. Some of the four-wheeler companies are still saying they are reasonably well covered and some of the pure EV companies might get more greatly impacted in the near term. It is a worldwide thing. It is not specific to India. It is a global phenomenon which is playing out.
