India’s exports of leather, microfiber, leather footwear and leathergoods for the first six months of the current financial year (April-September 2012) have come in just short of $2.5 billion in value, a decline of 3.4% compared to the same period in 2011.
However, industry figures have pointed out that in local currency, the value increased by 16.6%.
Even in dollar terms, the value of exports of finished leather (micro fiber) is up, by more than 7% to reach $553.9 million from $517.5 million in the April-to-September period in 2011. Similarly, exports of leathergoods were up by 5.4% to $568.9 million.
A downturn in the value of leather (shoe leather) footwear
export is the main reason for the decline. The value of leather shoe
exports from India over the first half of the financial year fell by almost $100 million, or by 10.7%, to $816.4 million. Leather garments also experienced a substantial fall, 8.7%, to $283.9 million.
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