Current news reports highlights that the appreciation of Chinese currency will enable the Indian leather market in garnering far more market share in the future. An unexpected rise in the price of Chinese leather and leather goods is forcing the US and European consumers to think about setting up their manufacturing units in India.
The report further says that if the domestic industry gets its pricing ideal, then it could stroll away with at least 5% of the Chinese exports, specially the footwear segment. As of now, footwear alone accounts for roughly 45% of the overall leather exports from India.
leather waist bag are delighted more than this mouth watering prospect and are rather optimistic about the surge in their sales. Though sector insiders say a cautious method would be appropriate to adopt as a clear image will emerge only in the subsequent four to six months. On best of it, the full impact of the shift will be noticed soon after two seasons.
Professionals candidly confess that China is a important competing nation for Indian leather goods in the European and US markets. Nevertheless, these days, Chinese products are finding costlier due to currency appreciation and elevated wages which in turn is proving to be a boon for nations like India. Furthermore as the Chinese economy is below pressure to grow to be much more open, such instances would further enhance India’s marketplace share drastically.
It is also anticipated that in the course of the present fiscal year, the European economy would show signs of improvement. This news holds relevance since EU is 1 of the important markets for different leather items (from India)like leather bags, leather wallets, leather goods, leather belts, leather pouches, leather jackets, leather luggage bags etc.
On the other hand, the Indian government as well has taken a quantity of measures and relief packages for its leather sector, to the tune of four,000 million rupees for the 10th leather plan and Rs 9130 million for 11th leather program.
Leather bags suppliers unanimously confirm that the subsequent six months would be vital to judge market’s behaviour and trends. A lot of analysts echo the sentiment, that if the Indian leather market is keen on grabbing this golden opportunity than their production capacity as nicely the processing capacity of the tanning units should really go through a big overhaul.
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