Council for Leather Exports (CLE) Chairman Sanjay Leekha has said that India’s leather and footwear exports are expected to touch about $6 billion in the current financial year (FY22) on account of healthy demand in key global markets. He also urged the government to release pending refunds under MEIS (merchandise export from India scheme) as non-availability of liquidity is a major concern for exporters as of now.
Similarly, Leekha said this year's All Industry Rates of Drawback should be immediately revised to compensate for the duties imposed on the wet blue, crust, and finished leather as well as embellishments used in production. He noted that the industry is labour intensive, providing employment to 45 lakh people. The sector has a total turnover of $17.09 billion, which includes exports of $5.09 billion and domestic industry turnover of $12 billion during 2019-20.
CLE Chairman further said the sector has the potential to reach a total turnover of $30 billion in next five years, which includes the domestic turnover of $20 billion and export turnover of $10 billion and generate additional employment for 15 lakh more people.
