Because of strong demand in important international markets, the nation’s leather and footwear exports are predicted to increase by more than 12 per cent to US $ 5.3 billion in the current fiscal year, according to CLE Chairman Rajendra Kumar Jalan.
Several international businesses, including those from the US, are expressing a strong interest in establishing production facilities in India, he added.
“Our exports were US $ 4.69 billion in 2023–2024; we anticipate that they will reach US $ 5.3 billion this fiscal year,” Jalan stated and added that “there is a lot of demand from the US and the UK,” and that order books are good for the upcoming months.
He also mentioned that Indian exporters are looking into commercial prospects in Africa. He stated that approximately 42 lakh people are employed in this labour-intensive industry.
The industry generates over US $ 19 billion in revenue overall, of which US $ 5 billion comes from exports.
H eopined that by 2030, the sector’s overall revenue might reach US $ 47 billion, which would include US $ 25 billion in local output and US $ 13.7 billion in export revenue.
Additionally, he asked the Government to expand the Production-Linked Incentive Scheme (PLI) to the industry, stating that it would help reach the US $ 47 billion export goal and generate employment for roughly 7-8 lakh people.
