Leather is among the most widely traded goods in the world. It is a major component of the fashion and footwear industry, interior decor and furniture industry, and the automotive industry. It is a very important sector of the Indian economy providing substantial export earnings and growth and also having a large domestic market. A major reason for this is the ready availability of raw materials for processing, namely cattle, buffaloes, goats and sheep which are raised in a vast number in the country.
India stands second in the world in the production of leather garments and footwear, placing the industry among the top foreign exchange earners in the country. A high growth rate is projected for both the domestic as well as foreign markets in the next five years.
Major segments in the sector include Leather Goods, Finished Leather, Leather Garments, Footwear, Footwear Components and Saddlery and Harness. Letâs take a look at a few of these.
The demand for leather goods and garments is on the rise and is expected to grow further. With more and more multinationals entering the market, this industry is all set to turn hi-tech. Professionals in this segment can either take up designing roles or get into the technical production side.
India is the second largest producer of leather footwear in the world. Hence, this segment is said to be the growth driver of the leather industry. It caters not only to the huge demand from the domestic market but also the booming export demands.
Finished Leather, in the last few years, has emerged as a lucrative option, both for the industry and also for professionals looking to enter this segment. India has the largest livestock population in the world, providing a strong raw material base for this industry.
Leather Goods & Garments