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Leather exports to retain over 10 pc growth
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SME Times News Bureau | 16 Feb, 2012
Stagnant demand in Europe and weak demand in the US will not hinder
leather exports from India and it is expected to retain growth of over
10 percent next fiscal backed by rising demands in markets like Africa
and Brazil, trade officials said Wednesday.
"With production base
stagnating in Europe (following the Eurozone crisis) and slow demand
growth in the US (two of the major importers), the government is looking
at other markets," India Trade Promotion Organisation (ITPO) executive
director Neeraj Kumar Gupta said.
ITPO is the nodal agency of the Central government for promoting the country's external trade.
Talking
to reporters on the sidelines of the formal announcement of
International Leather Goods Fair (ILGF) during Feb 18 to 20, Gupta said
leather exports from India were expected to retain growth of over ten
percent next fiscal, buoyed by rising demand from alternate markets in
Africa, Brazil and Commonwealth of Independent States countries.
He
said the central government had been taking part in various overseas
fairs to promote the leather sector and increase its share in the global
leather products from the present three percent.
ILGF, an annual event, is being jointly organised by ITPO, Council for Leather Exports and the West Bengal government.
Gupta informed that as many as 19 overseas buyers would participate in the fair.
Export
of leather from India was $3.8 billion in 2010-11, Gupta said, adding
it was expected to reach about $4.5 billion at the end of this fiscal.
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