Recent news reports highlights that the appreciation of Chinese currency will support the Indian leather industry in garnering extra marketplace share in the future. An unexpected rise in the cost of Chinese leather and leather merchandise is forcing the US and European consumers to consider about setting up their manufacturing units in India.
The report further says that if the domestic industry gets its pricing suitable, then it could walk away with at least five% of the Chinese exports, especially the footwear segment. As of now, footwear alone accounts for around 45% of the all round leather exports from India.
Leather bags suppliers are delighted over this mouth watering prospect and are fairly optimistic about the surge in their sales. Even though market insiders say a cautious approach would be suitable to adopt as a clear image will emerge only in the next 4 to six months. On top of it, the full impact of the shift will be noticed after two seasons.
Authorities candidly confess that China is a big competing nation for Indian leather merchandise in the European and US markets. Even so, these days, Chinese solutions are receiving costlier due to currency appreciation and elevated wages which in turn is proving to be a boon for countries like India. Furthermore as the Chinese economy is beneath stress to turn out to be much more open, such situations would further increase India’s market share considerably.
It is also anticipated that through the current fiscal year, the European economy would show signs of improvement. This news holds relevance due to the fact EU is one of the key markets for a variety of leather items (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 too 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 strategy.
vintage tote bag confirm that the next six months would be crucial to judge market’s behaviour and trends. Many analysts echo the sentiment, that if the Indian leather market is keen on grabbing this golden opportunity than their production capacity as effectively the processing capacity of the tanning units ought to go by way of a key overhaul.
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