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Business EconomyPosted at: Jan 17 2019 7:18PM


US footwear firms fear sanctions against China, looks up India : CLE

Chennai, Jan 17 (UNI) Council for Leather Exports (CLE) Chairman
P R Aqeel Ahmed on Thursday said US footwear companies were
looking at India for sourcing fearing imposition of sanctions on China.
The Indian footwear exporters have been receiving more enquiries,
including requests for samples, from the US as they were worried
about sanctions on China, he told reporters here.
He said at present India exports about two to three per cent of
leather products for US.
The CLE Chairman said several Chinese leather firms have evinced keen interest
to set up facilities in India.
Mr Ahmed also said Russia, Africa, Chile, Japan, Korea and Latin America
were also potential markets for the Indian leather industry.
He said the Indian leather exports stood at at Rs 37,000 crore last
fiscal and it was expected to increase by five per cent this year.
Talking about penetration in US and attracting investments, Mr Aqeel
said US was now the largest market for Indian leather and footwear
industry and exports to this country were growing.
He said US was also the largest importing country of leather, leather
products and footwear, accounting for about 20 per cent of global
imports.
''To tap this market, we are increasing our capacities with financial
assistance from the Government under Integrated Development of
Leather Sector (IDLS) and also taking measures to attract overseas
investments'', he added.
Mr Aqeel said recently, Invest India organized an Investment Promotion
event in China, which was attended by more than 400 companies that
showed the huge interest among Chinese entrepreneurs to invest in the
Indian leather and footwear industry.
''As a follow-up, a Chinese delegation is visiting India during India
International Leather Fair to be held here from January 31 to February
three for further business meetings with Indian companies'', he added.
UNI GV CS 1920
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Tags: #US footwear firms fear sanctions against China# looks up India : CLE
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