| The leather industry in India holds a very prominent | | | | for 2000-2009 has identified the leather sector as a |
| place in the Indian economy. The leather and leather | | | | focus sector in view of its immense potential for |
| products industry is one of the oldest manufacturing | | | | export growth and generation of employment |
| industries in India. The Indian leather industry provides | | | | generation prospects. |
| employment to about 2.5 million people in the country | | | | Investment opportunities in the leather industry lie in |
| and has an annual turnover of approximately US$ | | | | different segments related to the industry, which |
| 5,000,000. | | | | include tanning and finishing of leather products, |
| The industry has a massive potential for providing | | | | manufacturing of leather garments, manufacturing of |
| more employment, growth, and exports. Recently, | | | | leather footwear and footwear parts, and |
| the exports of leather and leather products have | | | | manufacturing of leather goods, such as harness and |
| gained massive momentum. The exports of Indian | | | | saddlery amongst a host of other opportunities. |
| leather goods have registered phenomenal growth. | | | | Amongst all the industries mentioned above the |
| This is mainly because great emphasis has been | | | | footwear industry in particular holds greater potential |
| placed on the planned development of the leather | | | | for investments in India. India produces approximately |
| industry and at the optimal utilization of available raw | | | | 700 million pairs of leather footwear every year and |
| materials. | | | | accounts for an 18% share of the total Indian leather |
| Over the years the leather industry in India has | | | | export. |
| undergone drastic change from being a mere | | | | After footwear manufacturing of leather goods |
| exporter of raw materials in the early 60's and 70's | | | | promise great investment opportunity. Manufacturing |
| to now becoming an exporter of finished, | | | | of leather products, such as wallets, travel wares, |
| value-added leather products. The main reason behind | | | | belts, and handbags offer great returns on |
| the transformation is the several policy initiatives | | | | investment. |
| taken by the government of India. The proactive | | | | India is one of the best destinations in the world for |
| government initiatives have yielded quick and | | | | investing in the leather industry because India is |
| improved results. Thanks to the government efforts | | | | endowed with abundant raw materials required for |
| today, the Indian leather industry has attained a | | | | the industry to grow. India has a huge population of |
| prominent place in the Indian export and has made | | | | cattle. India accounts for 21% of the world's cattle |
| the industry one of the top 7 industries that earns | | | | and buffalo and 11% of the world's goat and sheep |
| foreign exchange for the country. | | | | population. Apart from the easy availability of raw |
| Since India adopted the globalization and liberalized | | | | materials, investors are able to enjoy an easy and |
| economic policies in 1991, the leather industry has | | | | abundant supply of skilled manpower, world-class |
| flourished consistently in several ways and has | | | | technology, competent and favorable environmental |
| contributed heavily to the Indian exchequer. Though | | | | standards, and the devoted support of allied |
| the industry has developed, it still has great potential | | | | industries. |
| for more growth and investments. Investing in Indian | | | | Several leading international leather goods |
| leather industry is particularly advantageous because | | | | manufacturing brand names, such as Hugo Boss, |
| the industry is poised to grow further and achieve a | | | | Tommy Hilfiger, Versace, Guess, and DKNY, have |
| major share in the global trading market. | | | | invested in India and are engaged in sourcing leather |
| The government of India in its Foreign Trade Policy | | | | goods from India. |