India – Not only the world’s tannery but also dominant in leather goods and accessories

-

Leather is one of the most widely traded commodities globally and India’s leather industry is one of its oldest manufacturing industries with a prominent place in the Indian economy. The Indian leather manufacturing industry has been catering to the global market from the 19th century and accounts for around 13% of the world's leather production of hides/skins and handles a robust annual production of about 3 billion square feet of leather. This industry is an employment intensive industry providing jobs to more than 4 billion people. The major part of the leather is produced in the southern part of India, i.e., Tamil Nadu, the largest leather producer state with 40% of the country’s leather production. India has an abundance of raw materials with access to 20% of the world's cattle and buffalo and 11% of the world's goat and sheep population. Leather is known for substantial export earnings and is among the top 10 foreign exchange earners for the country. India is the 2nd largest producer and exporter of footwear and leather garments and the 5th largest exporter of leather goods accessories in the world. The famous leather goods manufacturers in India like Bata India Ltd., Bhartiya International Ltd., Farida Group, Lakhani Armaan Group etc. manufacture products ranging from designer collections to personal leather accessories such as bags, handbags, hand gloves and industrial gloves, wallets etc.



Financial Support and Incentives by Government of India

Under the Indian Footwear, Leather & Accessories Development Program (IFLADP) by the Make-In India movement, sub-schemes like integrated development of the leather sector, mega leather, footwear and accessories cluster, leather technology, innovation and environmental are the kind of financial support that is being provided by the Government of India.

The government is helping in the promotion of Indian brands in the leather, footwear and accessories sector and the export of value-added products which will boost the sector as a whole, by reducing the price of importing essential components for manufacturing leather goods, which are requested by overseas buyers.

Finance Minister Nirmala Sitharaman in her budget 2022 announced that the leather and footwear industry is looking to expand its export turnover from USD 5.09 billion in 2019-20 to USD 10 billion by 2025-26 and the domestic industry turnover from USD 12 billion in 2019-20 to USD 20 billion by 2025-26 and the Union Budget 2022-23 will immensely help in achieving these targets.

The Government of India is likely to extend the incentive scheme IFLADP for the leather footwear manufacturing industry till 2025-26. The National Manufacturing Policy has identified leather as a special focus sector for growth and employment generation. Especially, women's employment is predominant in the leather industry with about 30% share. India has trade agreements with Japan, Korea, and Chile etc. and is negotiating free trade agreements with the European Union as well.

Major Export Markets, Products & Quality

The major markets for Indian Leather and Leather products are the USA, Germany, UK, Italy, France, Spain, UAE, Netherlands and Belgium. Apart from footwear, other items such as garments, handbags, bags, gloves, wallets, briefcases, upholstery, saddlery items, belts, and folios are also made in India and are being exported; worldwide.

The products made, meet the standards and requirements of bulk buyers from Australia, the EU, and the US.

The strong facts about Indian Leather Industry:


• Own raw material source, with a strong and eco-sustainable tanning base.

• Modernized manufacturing units with trained manpower at a competitive wage level.

• Constant human resource development program to enhance overall leather productivity.

• Increasing use of quality components.

• Strategic location in the Asian landmass.

• Continuous modernization and technology up-gradation.

• Presence in major markets like the UK, the USA, and Europe.

• Economic size of manufacturing units.


There are many leather manufacturing companies in India and selecting a suitable contract manufacturer for leather manufacturing can be a little challenging. Industry Experts is a B2B sourcing platform that connects the client with the relevant custom leather goods manufacturer in India according to the business needs.

Source:- https://www.industryexperts.co.in/blog/india-not-only-the-world-s-tannery-but-also-dominant-in-leather-goods-and-accessories

Comments

Post a Comment

Popular posts from this blog

How to choose the Best Sourcing Company for Your Business

-
Image
  A significant number of modern companies have recently turned to the manufacturer sourcing activities to reduce their production costs. In addition, they will lower their goods and services costs. In this respect, the position of manufacturing sourcing  enterprises is significant. However, it is not easy for businesses to select a Manufacturer sourcing in India . Before you deal with a sourcing firm, you have to look at certain things. Until choosing a procurement organization, businesses must weigh the following factors: Knowledge: Often manufacturer sourcing firms do not have proper knowledge of goods and services they are dealing with. These corporations can be avoided by entities by all means. Always choose manufacturing sourcing in India businesses who know the manufacturing processes. When enterprises choose these vendors, they do not adhere to quality requirements on their goods and services. Authentic procurement agencies such as Industry Experts inspect the output du
Read more

How B2B Sourcing Platforms Enable Your Business to Acquire Wider Reach?

-
Image
  As per Statista, global business-to-business (B2B) sourcing transactions totaled $12.2 trillion in 2019. The emergence of the B2B marketplace is among the most influential developments in B2B eCommerce. The importance of this B2B sourcing platform cannot be overstated, as it has reinterpreted the trading relationship between B2B buyers and sellers while still acting as a networking hub. If the trend seeks to spread, conventional B2B wholesalers and distributors have a tremendous opportunity to adopt the online marketplace paradigm and obtain a strategic edge.   As a result, B2B solution providers are witnessing dramatic shifts in buyer tastes and software procurement methods. In addition, the study showed that more than 80% of businesses no longer purchase software according to a calendarized buy schedule. Rather than waiting for the next update or purchasing cycle, more than 50 % of the respondents have said that they are willing to make a purchase as soon as the need emerges.
Read more

India – An attractive manufacturing and sourcing destination

-
Image
India has emerged as an attractive manufacturing sourcing destination in the past couple of years and has a lot to offer as the world’s fast-growing economy. The manufacturing sector in India is fast developing into an investment hub for many foreign players who have already shifted their sourcing to India and are benefitting from the same. But, before proceeding to more details, it is important to understand what manufacturing sourcing is and what a manufacturing sourcing company do. Manufacturing Sourcing – It refers to the concept of searching for a supplier that would help the client company in meeting its objective in terms of cost, quality and deadlines as well as performance. The sourcing consultant from a manufacturing sourcing company helps the client on both professional and personal levels which further helps in making the production stage much smoother. The primary advantage of the services provided by the consultant includes cost savings and improved efficiency. Some mor
Read more