Kolkata, March 14 (IANS) Notwithstanding Indian finished leather exports surging by over ten percent during April-November 2014, an industry official says the domestic makers need to build their own brands rather than selling finished leather abroad or going for contractual manufacturing.
"Personally, I wish contractual manufacturing decreases and Indian companies come up with their own brands rather than produce the goods for a third party", Adhar Sahani, chairman of trade show committee of Indian Leather Products Association told IANS here.
The leather exports industry overall grew by 18.5 per cent at Rs. 26,940 crore during April-November 2014 against the previous year's performance of Rs. 22,729 crore.
According to the veteran leather industry official, the Europe-bound export scenario is not conducive as the Euro is falling against the Rupee leading to decreased margins. The trade embargo on Russia is also hitting the supply.
"Russia is a brand-conscious market and prefers European brands. Now, with the embargo on Russia in place, the demand for finished leather (from India) is falling", he said.
Asked if Indians can directly export to brand-conscious Russia, he said: "India first needs to build its world-class export brands to take on the established global players".
Indians are becoming brand-conscious nowadays. Companies are focusing on offering the best quality to meet global standards which is "encouraging" for the leather industry, he added.
Sahani said Indian leather goods makers need to build their "own brands" now as Indian leather holds a coveted place in the international market.
However, he said finance would be the biggest challenge for the industry.
"What the industry needs are angel investors willing to put money in ventures aiming to become global brands", he said.
When asked about the possibility of the recent beef ban in Maharashtra hitting leather supplies, he said, "It will have no impact".
India has only 255 researchers per million people. State governments have to ensure funding for r
World Bank: The World Bank has reduced China's growth forecast for 2022, from 4.3% to 2.7%
In a report released on Tuesday, the World Bank has reduced China's growth forecast for the year
CBSE 12th Result 2022: Board examinations of classes X and XII have now been successfully conduct
The suspense on who will be the next president of Congress will end in a few days. There is littl
Bollywood player i.e. Akshay Kumar has now announced the release date of his other new film. The
Jabra Elite 85t earbuds launched in India, will compete with Sony with 5.5 hours backup
Audio manufacturer Jabra has launched its new True Wireless earbuds Elite 85t in India. The new J
Haryana Home Minister Anil Vij said on Friday that 102 FIRs have been registered so far in connec
The Rs 358 crore sponsorship deal between the Board of Control for Cricket in India (BCCI) and fa
A controversy erupted on Sunday after the ICC did not invite Pakistan Cricket Board officials on
Amid the fall in crude oil prices in the international market, the government has reduced the win
