Leather, footwear exports up 25 pc to USD 5.7 bn in 2024-25; may cross USD 6.5 bn in FY26
'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. Read More The Bear House raises Rs 500 Cr in Series A funding
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.
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