New Delhi, Jul 12 (KNN) With an annual turnover of over USD 10 billion, the export of leather and leather products increased manifold over the past decades and touched USD 5.91 billion in 2013-14, recording a cumulative annual growth rate of about 14.77 per cent (5 years), according to a Ministry of Commerce and Industry release.
 
The overall size of India’s leather sector is estimated to be Rs 25, 000 crore. 
 
The domestic market for leather, leather products and footwear has also increased from USD 2.2 billion to USD 5 billion in 2013-14. The per capita consumption of footwear which was less than 1 pair a decade ago has increased to 1.8 pairs per annum in 2011 and about 2 pairs at present.
 
The Government has identified the leather sector as a focus sector in the Foreign Trade Policy in view of its immense potential for export growth prospects and employment generation.
 
Planning Commission has also identified the leather sector as employment incentive sector for 12th Plan period. National Manufacturing Policy has further identified leather and footwear as special focus sector.
 
India holds a share of 3.05 per cent in global leather trade of USD 159.89 billion as per information available for the year 2011. (KNN/ST)