The future of the leather industry is promising. The industry has evolved with time, thanks to technological advancements. The use of machines and advanced machinery has made the process of animal/hide dressing and processing cheaper and more efficient. Given below are the trends and technologies that will help the industry to grow further.
In light of the above, we can predict that India will export approximately $395.9 million worth of leather and leather-related products in 2022. According to the India’s annual Industrial Production for Leather and Leather product in 2021, it is expected to rise through an increase of 0.7 percent with a forecasted total of around $101.3 million (approximately)
Though the global leather market is expected to grow at a steady rate in upcoming years, the market growth rate is still lower than the growth rate of other materials. Today, the animal hide industry is really competitive. “The major reason behind the competitive market is the availability of a large number of low-cost animal hide manufacturers in the industry. The top animal hide manufacturers in the world include some of the most famous names like Hides International, P.P.H. Leathers, Tannery Leathers, Intercontinental Leathers, and many more. Their products are available in the North American and European markets.”
About leather industry market size in india
There are a number of trends in the global leather market that can be predicted in the near future as well. One of these trends is the development of advanced technologies, especially in the areas of tanning and finishing. The development of new designs and styles is another growing trend in the industry. Also, the development of new tanning methods will likely give the leather industry a boost.
Updates 2022 leather industry
“The budget has announced major support measures, which will provide a fillip to the growth of exports from the leather and footwear industry,” Leekha said.
India introduced new quality control regulations for leather products in an effort to reduce their imports. The federal government enacted a standard order after consulting the Bureau of Indian Standards (BIS). Some shoes are made with a mixture of assorted meats, grains and other organic materials. One reason for the measure is because there were concerns that such products are trying to be imported without being tested or approved by the BIS.
Prices of premium and branded leather shoes and bags may go up by up to 5% next fiscal year after finance minister Nirmala Sitharaman imposed import duty on raw and finished leather by 10%. This will also impact exports, said companies.
“Prices will definitely increase by a minimum of 5% in wholesale and in retail by on average 3%. The move will also make domestic manufacturers uncompetitive in the global market where we have strongly positioned ourselves,” said Dilip Kapur, founder and president of Hidesign, the Pondicherry-based premium leather goods maker.
About Us
Fluerir Export. Emerged as a leading organization in the industry we are offering a high quality product range to our customers for meeting the requirements of our customers.
Future of Leather Industry in India is looking very bright because the leather industry is one of the major contributors to the Indian economy. Leather industry has the potential to generate employment, if it can form a strong infrastructure. India is considered as the biggest exporter of finished leather goods and the second largest exporter of leather and leather goods in the world.
We hope you enjoyed our blog post on Future Of The Leather Industry India. It’s important to understand trends so that you don’t find yourself falling behind them! If you would like to learn more and explore leather trends, feel free to visit our website at https://fluerirexports.com/ .
We have some additional information there that might be useful for you as well, so we hope you also found it interesting and useful!
To read more content Click Here