India’s leather export sector is poised for a strong recovery in the fourth quarter of 2024, following a period of challenges caused by global economic uncertainties and supply chain disruptions. According to industry experts, the demand for high-quality leather products, including footwear, accessories, and garments, is expected to rise as international markets regain stability and consumer spending picks up.
Strong Global Demand: The global demand for premium leather goods is on the rise, particularly in North America, Europe, and Asia. The shift towards sustainable and ethically produced leather products is benefiting Indian manufacturers, who are increasingly adopting eco-friendly production techniques, such as vegetable tanning and the use of plant-based leather alternatives.
Increased Export Orders: Indian leather manufacturers are seeing a resurgence in export orders, especially in sectors like luxury footwear and fashion accessories. International brands are increasingly turning to India for its competitive pricing, skilled workforce, and growing emphasis on sustainability.
Government Support: The Indian government is providing significant support to the leather sector, including financial incentives, modernization programs, and training initiatives. The introduction of policies under the Make in India initiative is helping leather manufacturers improve their global competitiveness, especially in high-value product segments.
Improved Infrastructure: India’s leather manufacturing hubs are benefiting from infrastructure improvements, including upgraded logistics and supply chain management, which will help reduce lead times and enhance the country’s ability to meet global demand efficiently.
Adaptation to Market Trends: Indian leather companies are aligning with global trends by offering customized, sustainable, and fashion-forward products. As consumers in key markets become more conscious of environmental issues, India’s focus on producing eco-friendly leather is increasing its appeal in premium markets.With these factors in place, India’s leather exports are expected to see a substantial recovery in Q4 2024, setting the stage for long-term growth in the global leather market. This recovery will not only boost India’s foreign exchange earnings but also contribute to the overall economic growth, job creation, and sustainability goals of the sector.
