December 2024 – India’s leather and footwear exports are set to grow significantly, driven by robust global demand and strategic industry initiatives. With projected growth of over 12%, the sector continues to demonstrate its potential as a key contributor to India’s economy.
Growth Forecast and Sector Insights
India’s leather and footwear exports are expected to reach $5.3 billion in the current fiscal year, up from $4.69 billion in 2023-24. This increase reflects a strong demand from major markets like the US and the UK and a resurgence of interest in Indian leather products globally.
Sector Potential and Global Opportunities
The leather industry is a labor-intensive sector, employing 4.2 million people. With a current turnover of $19 billion, the sector is poised to grow to $47 billion by 2030. Key projections for 2030 include:
- Domestic production: $25 billion.
- Exports: $13.7 billion.
Moreover, global companies, especially from the US, are exploring opportunities to establish manufacturing bases in India, further boosting growth and employment.
Challenges and Government Support
The Council for Leather Exports (CLE) has urged the government to:
- Extend the Production-Linked Incentive (PLI) Scheme to the leather sector.
- Remove export duties on wet blue and crust leather.
The sector also aims to improve brand recognition globally while addressing challenges such as skilled labor shortages and design development. Indian exporters are actively exploring new markets, including Africa, to diversify their reach.
India’s Leather Export Sector: Key Figures
| Metric | Value (2024) | Projection |
|---|---|---|
| Exports (2024-25) | $5.3 billion | – |
| Exports (2023-24) | $4.69 billion | – |
| Sector Turnover (Current) | $19 billion | $47 billion by 2030 |
| Domestic Production (2030) | – | $25 billion |
| Exports (2030) | – | $13.7 billion |
| Employment | 4.2 million | – |
Market Trends and Future Outlook
The Indian leather industry’s resilience and adaptability, coupled with strategic government support, position it to become a global leader. By leveraging its strengths and addressing key challenges, the sector is poised for exponential growth in the coming years.
Glottis Limited 
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