Current news reports highlights that the appreciation of Chinese currency will support the Indian leather industry in garnering more industry share in the future. leather man bags in the price of Chinese leather and leather goods is forcing the US and European customers to feel about setting up their manufacturing units in India.
The report additional says that if the domestic industry gets its pricing appropriate, then it could stroll away with at least five% of the Chinese exports, in particular the footwear segment. As of now, footwear alone accounts for around 45% of the general leather exports from India.
Leather bags suppliers are delighted over this mouth watering prospect and are rather optimistic about the surge in their sales. Even though sector insiders say a cautious strategy would be appropriate to adopt as a clear picture will emerge only in the next four to six months. On top rated of it, the complete effect of the shift will be noticed soon after two seasons.
Professionals candidly confess that China is a main competing nation for Indian leather merchandise in the European and US markets. On the other hand, these days, Chinese goods are having costlier due to currency appreciation and improved wages which in turn is proving to be a boon for countries like India. Moreover as the Chinese economy is below pressure to become a lot more open, such situations would additional strengthen India’s industry share significantly.
It is also expected that in the course of the present fiscal year, the European economy would show indicators of improvement. This news holds relevance simply because EU is one particular of the big markets for many leather items (from India)like leather bags, leather wallets, leather goods, leather belts, leather pouches, leather jackets, leather luggage bags and so on.
On the other hand, the Indian government as well has taken a number of measures and relief packages for its leather market, to the tune of 4,000 million rupees for the 10th leather program and Rs 9130 million for 11th leather plan.
Leather bags suppliers unanimously confirm that the next six months would be essential to judge market’s behaviour and trends. Quite a few analysts echo the sentiment, that if the Indian leather business is keen on grabbing this golden chance than their production capacity as effectively the processing capacity of the tanning units need to go through a major overhaul.
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