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Posted on Tuesday, September 24, 2019 at 2;02 by Rafeeq - Under NEWS

Economic recovery begins; industry gives recommendations for maintaining growth momentum The domestic leather sector has the potential to create about 2 million jobs in next five years and with the rationalisation of export duty on raw and semi-finished leather, this sector throws huge opportunities, Union minister for skill development and entrepreneurship Mahendra Nath Pandey has said.

Pandey, who was in Chennai for an award function, said, “The Union government has allowed 100% foreign direct investment (FDI) in the sector and rationalised export duty on raw and semi-finished leather. The sector employs over 2.5 million people now and has the potential to create 2 million jobs in the next 5 years.

“Globally, India is the second-largest producer of leather garments and footwear and with this phenomenal market potential, the sector seems promising in the years to come. When we look back at our past, India has always had a rich heritage of leather crafts like footwear and accessories. These were prepared by highly skilled craftsmen from various clusters such as Agra, Kanpur, Ambur in Tamil Nadu and other regions. Today, these skills need to be preserved and people should be encouraged to make them a means of sustainable livelihood,” he said. India accounts for about 13% of the world’s leather production of footwear and leather products in the world. The leather and leather products industry contributes less than 1% to India’s GDP and footwear industry contributes about 2% to India’s GDP. Indian leather industry has huge potential for exports.

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