NEW DELHI : Council for Leather Exports (CLE) has estimated that India's leather exports will peak to USD 27 billion by 2020, from the present level of USD 5.89 billion, given proper encouragement and support.
Explaining the insignificant share of India's exports to the CIS region, Chairman, CLE, Mr. Mukhtarul Amin said, "The combined annual import value of leather, leather products and footwear by CIS was about USD 6 billion." Underscoring that leather trade between the two regions can be a win - win situation. Amin observed that CIS can take advantage of the expanding market for leather and leather products in India, which is estimated at USD 12 billion.
Different policy steps that are needed to push up leather exports from the Country, which has been assigned importance under the Make in India program were discussed at a Symposium organized by CLE recently in New Delhi, which was attended by a cross section of leather exporters, policy makers and representatives of embassies of various leather importing countries, particularly Russia and CIS countries. The symposium has focused how to enhance India's leather trade between Russia and CIS, which were major importers of Indian leather during the erstwhile Soviet Union period.
Chairman, CLE explained that the combined annual import value of leather, leather products and footwear by CIS was about USD 6 billion. Of this, Russia alone imported over USD 4 billion, accounting for a share of 69 percent. However, India's exports to the region were USD 70 million, which is insignificant. India's export to Russia alone is to the tune of USD 49 million, accounting for a share of 82 percent of export to the region.