Leather exports from India may touch $5.4 billion by 2014 from $3.8 billion at present despite slowdown in European economies that are among the largest importers, a study by Assocham said.
New Delhi: Leather exports from India may touch $5.4 billion by 2014 from $3.8 billion at present despite slowdown in European economies that are among the largest importers, a study by Assocham said.
"India has the largest livestock population in the world. Added to this are the strength of skill manpower, innovative technology and dedicated support of the allied industries. Leather exports are likely to register a growth of 13%," the chamber said.
Exports of leather and leather products have risen from $3.4 billion in 2009-2010 to $3.8 billion in 2010-11, recording a positive trend of 13%, it said.
India's major leather markets include Germany with a share of 14.34%, the UK (12.80%), followed by Italy (11.52%) and the US (8.72%).
Recently, Standard & Poor's downgraded the US credit ratings, while many countries in Europe, including Spain, Italy and Greece, continue to reel under a debt crisis, thereby raising concerns over the business coming to India from these countries.
"Exports to Australia, Greece, Switzerland, Portugal, and Ireland have shown a decline," it added.
The industry, employing over 3 million people, has a 3.5% share in the global leather trade.
Some of the items of the industry, include leather shoe, sandals, leather garments, gloves, purses and hand bags.
"The composition of exports has also been changing, with more focus on value added products," Assocham said.