NEW DELHI: Despite a gloomy trend prevailing in the European market, the Indian leather sector has posted a marginal growth in exports for the June 2015, when compared with May 2015.
However, for the quarter ended June 2015, the Indian leather sector exported goods worth $1.57 billion against $1.65 billion for the corresponding quarter last year, marking a negative 1.51 per cent growth.
The Indian leather sector has been posting negative growth since April 2015. In the first three months, India exported leather and leather products worth $466.5 million, $532.8 million and $572.3 million, respectively, showing a decline of 4.53 per cent, 8.34 per cent and 1.51 per cent. The average loss during this period stood at 4.86 per cent.
Council for Leather Exports Chairman, Rafeeque M. Ahmed, said: “The first two months have been bad in terms of global exports for leather and leather product5s. But, last month, we really saw some growth, with the U.S. market coming to our aid. We may be still in the deficit zone. If the same trend continues for a while, we can equal last year’s export performance.”
On the dismal performance, he said that the Indian leather sector faced a serious of problems.
The economic conditions in the Europe, fall in euro, and economic sanctions imposed by the European Union against exports of goods to Russia and vice versa.
