The $6.5 billion Indian leather export industry is on a drive to step up exports to one of its key markets, the UAE, by organising a two-day expo in Dubai beginning from 15 December.
The event will showcase a range of leather products. Finished leather, leather footwear and leather goods account for about 76% of leather exports from India.
The event is being jointly organised by India's Council for Leather Exports (CLE), Indian trade and diplomatic missions in the UAE, and India Trade & Exhibition Centre. It is expected that around 250 companies will participate in the event.
The leather export industry is symptomatic of falling exports from India, which registered a decline for the 11th straight month in October this year.
Leather exports from India fell from $2.87 billion (April-August 2014) to $2.65 billion during the April to August period this year, according to CLE.
The trend was mixed, with some traditional markets such as the Germany, Italy and Hong Kong witnessing a decline. On the positive side, the US, the UAE and some countries imported more leather products from India during April to August this year, as compared to the previous year.
The UAE accounted for 5.6% of India's leather exports, while the largest share is that of the US, at 14.35%.
"India's export of leather and leather products to UAE increased from $69.05 million in the year 2009-10 to $ 284.06 million in the year 2014-15, growing at a CAGR rate of 32.69 per cent," said CLE Chairman Ahmed.
"Indian leather sector has been included as one of the 'Focus Sectors' under 'Make in India' Programme of the Prime Minister. A turnover target of USD 27 billion (as against present turnover of USD 12.5 billion) has been set for the leather industry under Make in India, which is to be achieved by 2020," said Ahmed, according to PTI.