India's FY25 leather products, non-leather footwear exports up 25% YoY
India's export of leather products and non-leather footwear rose by about 25 per cent year on year (YoY) to $5.7 billion in fiscal 2024-25 (FY25) and the shipments are likely to cross the $6.5 billion mark this fiscal, according to the Council for Leather Exports (CLE).
Demands in both developed and developing countries are healthy, order books are good for the coming months and huge demand is coming from the United States and the United Kingdom, CLE said.
India's export of leather products and non-leather footwear rose by about 25 per cent YoY to $5.7 billion in FY25 and the shipments are likely to cross the $6.5 billion mark this fiscal, according to the Council for Leather Exports. The sector can reach a total turnover of about $39 billion by 2030, which includes domestic production of $25 billion and export turnover of $13.7 billion.
"In 2024-25, we have exceeded the exports target by $1 billion set up by the department of commerce and going by this trend, our exports will cross $6.5 billion in 2025-26," CLE executive director R Selvam said. He said that the sector is recording growth despite global uncertainties.
CLE has suggested 'zero-for-zero' duty to the government in the proposed bilateral trade agreement with the United States, he was cited as saying by a news agency.
The sector can reach a total turnover of about $39 billion by 2030, which includes domestic production of $25 billion and export turnover of $13.7 billion.
Several Chinese investors are keen to join hands with Indian footwear players to set up manufacturing units in India, CLE added.
Fibre2Fashion News Desk (DS)
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