6 February 2023
During the first nine months of India’s current financial year (April-December 2022), the country’s leather industry achieved $4.25 billion in export earnings, the Council for Leather Exports (CLE) told international journalists during a meeting on the second day of the India International Leather Fair (IILF), reports Leatherbiz.
This figure represents an increase of 17% year on year. Projections for 2023 suggest export earnings of approximately $5.6 billion.
Figures cited by the CLE for the financial year 2021-2022 showed a new record for exports to the US, with revenues reaching in excess of $1 billion. When asked of the current situation, preliminary figures have already surpassed the previous record and forecast figures were extremely positive. “The final projection for 2023 is $1.4 billion exports to the US,” said CLE chairman, Sanjay Leekha.