India's Leather Sector Expected to Reach $27 Billion turnover

Posted on 2nd Feb 2015 12:57 pm by mohit kumar

Chennai, Jan 31 (IANS) India's leather sector is expected to touch $27 billion in five years, officials said here Saturday.

Speaking to reporters, J.S. Deepak additional secretary, Department of Commerce, said the leather sector has been notified as a focus sector in the 'Make in India' programme.

He said the sector is expected to touch $27 billion in the next five years from the current turnover of $12 billion.

According to M. Rafeeque Ahmed, chairman, Council for Leather Exports (CLE), in five years time exports are expected to touch $15 billion from the current level of $5.91 billion.

During the first eight months of the current fiscal the industry shipped out goods worth $4.45 billion up from $3.8 billion logged during the corresponding period of the previous year.

Deepak said the government is looking at ways and means to support the industry to set up effluent plants. It will soon come out with concrete measures.

Speaking about the India International Leather Fair to be held here Feb 1-3, Deepak said 440 companies are participating in the event, up from 385 companies that participated last year.

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