Recent news reports highlights that the appreciation of Chinese currency will enable the Indian leather sector in garnering more industry share in the future. An unexpected rise in the cost of Chinese leather and leather merchandise 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 business gets its pricing appropriate, then it could walk away with at least five% of the Chinese exports, in particular the footwear segment. As of now, footwear alone accounts for approximately 45% of the all round leather exports from India.
Leather bags suppliers are delighted over this mouth watering prospect and are quite optimistic about the surge in their sales. Even though www.therealleathercompany.com/collections/leather-backpacks say a cautious approach would be ideal to adopt as a clear picture will emerge only in the next four to six months. On best of it, the complete effect of the shift will be observed right after two seasons.
Professionals candidly confess that China is a main competing nation for Indian leather merchandise in the European and US markets. Even so, these days, Chinese products are finding costlier due to currency appreciation and increased wages which in turn is proving to be a boon for nations like India. Additionally as the Chinese economy is below stress to grow to be far more open, such instances would additional improve India’s market share significantly.
It is also anticipated that in the course of the existing fiscal year, the European economy would show indicators of improvement. This news holds relevance due to the fact EU is 1 of the major markets for a variety of leather goods (from India)like leather bags, leather wallets, leather goods, leather belts, leather pouches, leather jackets, leather luggage bags and so forth.
On the other hand, the Indian government as well has taken a quantity of measures and relief packages for its leather business, to the tune of four,000 million rupees for the 10th leather plan and Rs 9130 million for 11th leather plan.
Leather bags suppliers unanimously confirm that the subsequent six months would be vital to judge market’s behaviour and trends. Numerous analysts echo the sentiment, that if the Indian leather market is keen on grabbing this golden chance than their production capacity as nicely the processing capacity of the tanning units ought to go through a big overhaul.
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