Corporate Business

The global economic downturn has now begun affecting domestic leather production and export orders. Small and mid-sized leather exporting units in the country are anticipating a fall of approximately 20% in their export volumes in the coming months. A sharp decline in orders from the principal Western markets, particularly the US and the UK, has hit the export-oriented industry tremendously.

According to the Indian Finished Leather Manufacturers and Exporters Association (IFLMEA), the fall in demand in global markets would adversely affect the business volumes and profit margins of leather exporters. In addition to the decline in volumes, the implementation of non-trade barriers by European nations is likely to add to the cost burden of small scale leather exporters.

Habib Hussain, Chairman of the Council for Leather Exports (CLE), has asked leather exporters to seek new alternatives to deal with the unprecedented crisis. Voicing concern over the downward trend witnessed by leather exporters, Rafeeque Ahmed, Chairman, Farida group, a leading footwear exporter, has urged the central government to take note of the situation and introduce relief package for small industries.

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Article Source: ArticlesBase.com - Leather Sector to Witness 20% Decline in Export Volumes