October 5, 2020: Aggressive online marketing initiatives and pent up demand has delivered a boost to Indian leather exports. According to the Council for Leather Exports (CLE), leather exports from India in August reached almost 83 per cent of last year’s levels and the CLE remains confident that the industry would have breached 90 per cent of last year’s level by September-end.
Aqeel Ahmed Panaruna, chairman, CLE, said, “The market is showing good signs of recovery month after month. The export performance was about 60 per cent in June 2020 and in July it reached 73 per cent as compared to the same period last year.
Order books are good and we are optimistic of achieving 90 per cent of last year’s exports in September”. CLE has also undertaken aggressive marketing efforts through the virtual medium over the past few months.
According to the council, it has organised virtual leather fairs, exhibitions and B2B meetings in different countries.
Though India remains a preferred sourcing destination for major markets such as the US and Europe, CLE says it is also trying to attract potential buyers from countries such as Russia, Korea, and Peru. “In the wake of changes in the global trade scenario, there are emerging trade opportunities for us. We are very keen to further expand our presence in the largest market of USA.
We have signed MOUs with Footwear Distributors and Retailers of America (FDRA) and US Fashion Industry Association (USFIA)so as to increase business tie-ups,” said Panaruna. But they remain concerned over a possible second wave of infections. “Autumn-winter is the most important season for us. We expect very good winter sales, if there is no second wave of pandemic,” he noted. Besides sales, the industry is looking at widening investment opportunities too.
Source: The New Indian Express
