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Indian leather goods tapping new markets
By agencies
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Monday, 04 April 2005, 19:30 IST
NEW DELHI: Indicating improved efficiency of the country's small-scale industry, finished leather goods are foraying into new and highly competitive global markets, a PHDCCI analysis has observed.
With exports growing at 6 percent to Rs 1,945 crore during April-December 2004, finished leather goods, which is primarily manufactured by the small-scale industry, from the country are truly becoming global in its reach, the chamber said in a release.
Far from catering to the erstwhile eastern block nations 15 years back, the sector has been able to consolidate and has successfully tapped new markets in Asia, Europe and Americas in the post-reforms period, it said.
Products ranging from bags, shoes, belts are making deep inroads into China, which has emerged as one of the favored destinations for Indian leather goods.
Indian exports to China grew 43 percent during April-December 2004 to Rs 103 crore, the study said, adding Hong Kong also remained a prime destination with exports worth Rs 81 crore.
These goods have also been able to establish presence in countries like Croatia, Cyprus and Serbia, where they had no presence till a year ago. ASEAN countries have also emerged as on the largest importers of Indian leather goods, it said.
However, the study has suggested undertaking significant efforts in technological up gradation and increased investments to propel the sector on higher growth trajectory.