Recent news reports highlights that the appreciation of Chinese currency will help the Indian leather sector in garnering a lot more market share in the future. An unexpected rise in the price of Chinese leather and leather merchandise is forcing the US and European customers to consider 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, in particular the footwear segment. As of now, footwear alone accounts for about 45% of the all round leather exports from India.
Leather bags suppliers are delighted over this mouth watering prospect and are really optimistic about the surge in their sales. Even though business insiders say a cautious approach would be proper to adopt as a clear picture will emerge only in the subsequent four to six months. On best of it, the full influence of the shift will be noticed after two seasons.
Authorities candidly confess that China is a key competing nation for Indian leather solutions in the European and US markets. Having said that, these days, Chinese products are having costlier due to currency appreciation and improved wages which in turn is proving to be a boon for nations like India. In addition as the Chinese economy is below stress to turn into extra open, such instances would additional boost India’s marketplace share considerably.
It is also expected that through the present fiscal year, the European economy would show indicators of improvement. This news holds relevance mainly because EU is one of the big markets for different leather items (from India)like leather bags, leather wallets, leather goods, leather belts, leather pouches, leather jackets, leather luggage bags and so forth.
On the other hand, the Indian government too 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 essential to judge market’s behaviour and trends. leather fanny pack echo the sentiment, that if the Indian leather business is keen on grabbing this golden chance than their production capacity as properly the processing capacity of the tanning units should really go via a significant overhaul.
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