Exempt duty on raw material imports: Indian leather sector
23 Jan '20
2 min read
Pic: Shutterstock
India’s Council for Leather Exports (CLE) expects the government to announce support measures for the sector in the budget and also in the foreign trade policy to push exports and catalyse growth, its chairman Aqeel Ahmed Panaruna recently said. Export of leather and leather products declined by 7.55 per cent to $3.6 billion during April-December this fiscal.
It was $5.7 billion in 2018-19.
India's Council for Leather Exports expects the government to announce support measures for the sector in the budget and also in the foreign trade policy to push exports and catalyse growth, its chairman Aqeel Ahmed Panaruna recently said. Export of leather and leather products declined by 7.55 per cent to $3.6 billion during April-December this fiscal.#
As non-leather footwear has a huge potential for export growth, the council has suggested the government to provide duty exemption on imports of raw materials, Panarunatold a news agency.
Citing data published by the Directorate General of Commercial Intelligence and Statistics, he said leather footwear constitutes about 39 per cent in value terms in global import of footwear and 14 per cent in volume terms in the global export.
He said the council has planned a series of events to attract global buyers. The 35th edition of India International Leather Fair (IILF) will be held at Chennai from January 31 to February 3. Over 300 domestic and 150 overseas companies will participate in the fair. The council will also organise a Designers Fair from February 1 to 3 in Chennai, where 10 countries will participate.
The third Raw Material Sourcing Meet will also be held in Chennai on February 1.
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