What The Leather Industry Needs To Achieve Overall Turnover Of $47.1 Billion By 2030

Even as Chennai is gearing up to host yet another edition of the annual leather fair on Feb. 1, the footwear and leather industry is hoping to reach an overall turnover of $47.1 billion by 2030. 

The aim was to achieve a domestic turnover of $33.4 billion and export of $13.7 billion by 2030, according to KR Vijayan, chairman, Indian Finished Leather Manufacturing and Exporters’ Association.  

The present turnover is around $17.26 billion.

 “To achieve this, we require innovation both in technology and advanced machines,” he said. 

“Today, the leather industry is having a challenge with non-leather products, which are non-degradable as quick as leather. Also, the lifetime of non-leather shoes is shorter than leather shoes. This means the usage of non-leather is more. So, it affects the environment,” Vijayan said.

India accounted for about 13% of the global production of leathers, he said. “Added to the strength of the huge raw material base are the strengths of skilled manpower, innovative technology, increasing industry compliance to international environmental standards and the dedicated support of the allied industries,” according to Vijayan.

The industry provides jobs to about 4.42 million people, mostly from the weaker sections of the society, he said. “Women employment is predominant in the leather products sector, with about 40% share.”  

He urged the government to organise Buyer-Seller Meet in Europe and the U.S. “We need help in this regard from the government, like inviting foreign designers to the fair, offering them air tickets, accommodation, etc., at free of cost. Only these designers will select leathers for the next season. If the government considers our request, the leather industry will be able to double its exports,” he said.

India is the second largest exporter of leather garments, second largest exporter of saddlery and harness, and fourth largest exporter of leather goods in the world. 

“The industry was able to significantly increase its exports from $4.87 billion in 2021-22 to $5.26 billion in 2022-23. Up to October 2023, exports totalled $2.81 billion, which is 13% less than last year,” he said. 

The leather fair will feature a fashion show. “There will be around 450 exhibitors from India and 20 other nations participating in this major industry event,” said Yavar Dhala, convenor of the fashion show.

Fifteen companies will showcase their products. The Leather Show will feature 10 showstoppers and over 60 models. The focus will be on the industry’s “latest expressions of styles and designs in the world of leather fashion”.