Indian leather segment remains at USD 17.85 billion
(Fares – USD 5.85 billion, Domestic Market – USD 12 billion).India records for 12.93% of the world’s leather generation of conceals/skins. High Growth anticipated in the following five years. Indian cowhide industry has one of the most youthful workforce with 55% of workforce underneath 35 years of age. India is the second biggest maker of footwear and leather articles of clothing in the world.
REASONS TO INVEST
Opportunity to set-up send out units: Exports are anticipated achieve USD 9.0 billion by 2020, from display level of USD 5.85 billion. India has exchange concurrences with Japan, Korea, ASEAN, Chile and so forth., and is arranging Free Trade Agreement with European Union, Australia etc. Opportunity to tap colossal household advertise in India-: The local market is required to twofold in the following five years from introduce level and achieve USD 18 billion by 2020.Comparative preferences in cost of generation and work costs when contrasted with other significant assembling countries. Skilled/prepared labour accessible for another creation unit or existing creation unit.
India is a solid worldwide color provider adding up to roughly 16% of the world creation of dyestuff and color intermediates. 100% FDI is allowed under programmed course for the segment.
Add up to generation of real chemical compounds including petrochemicals was 23.9 MT (amid FY 2015-16)
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