India's Leather and Footwear Exports Surge with Promising Growth Ahead

India's leather and footwear exports have witnessed a remarkable 25 percent growth in the fiscal year 2024-25, reaching a total of 5.7 billion dollars. The sector is poised for further expansion, with projections indicating that exports could surpass 6.5 billion dollars in 2025-26.  

Key highlights of the announcement:  
- The Council for Leather Exports (CLE) attributes this growth to strong demand in both developed and developing markets, particularly in the United States and the United Kingdom.  
- The sector has exceeded its export target by 1 billion dollars, as set by the Department of Commerce, showcasing resilience despite global economic uncertainties.  
- The industry is labor-intensive, providing employment to approximately 4.2 million people, and has a total turnover of 19 billion dollars, including domestic production.  
- By 2030, the sector aims to achieve a turnover of 39 billion dollars, with 25 billion dollars from domestic production and 13.7 billion dollars from exports.  

This growth trajectory underscores the sector's potential to contribute significantly to India's economy while meeting global demand for high-quality leather and footwear products.  

Sources: Council for Leather Exports, Economic Times, Business Standard, Moneycontrol, The Hindu BusinessLine.