What is the significance of the leather industry to the national economy?
The leather industry is the largest foreign exchange earner in the country. From a mere exporter of raw materials in the 1970s, value-added finished products now have a share of about 80% in the total export of leather. Exports increased from $1875.21 million in 2002-03 to $3,477.52 million in 2007-08. Recognising its potential, the Centre has identified the industry as focus sector for generating employment and fostering further growth. Now, it is employing over 2.5 million people, mostly from the weaker sections of the society. Over 30% of them are women. It has the potential to provide jobs for another one million people, may be in the next five years. What is the impact of global crisis on the industry? Like other export industries, the leather sector also is facing the brunt of the global meltdown. Our hopes to hit $4 billion in exports by March 2009, was dashed. It may be around $3.54 billion. Available data with CLE shows that the fall in the first three months of 2009, when com
