Leather exporters seek govt help after orders worth Rs 7600 cr got cancelled amid COVID-19 outbreak

New Delhi, Mar 26 (KNN) The Council of Leather Exports (CLE) on Thursday sought government’s help to amid COVID-19 outbreak.

The council informed that shipment orders worth USD 1 billion (around Rs 7,600 crore) was cancelled in the last one week on account of coronavirus spread.

In a statement, CLE Chairman Aqeel Ahmed Panaruna said that Over 90 per cent of our exporters fall under Micro Small and Medium Enterprises (MSME) and there is a huge loss of capital for all of them. He urged the government for immediate relief for the exporters.

"I am extremely concerned that the companies in the leather, leather products and footwear sector (including non-leather footwear, components and sub-suppliers) will not survive, unless the central and state governments implement a stimulus package," the chairman added.

Explaining the current situation, Panaruna said the overseas buyers are continuously cancelling their export orders due to unstable situation, while some of them have put-on hold the shipments which are ready for export.

"The buyers in other major markets have also drastically reduced their buying forecasts. The virus spread has adversely impacted more than 2,700 registered manufacturer exporters who are in deep trouble across pan India," he added.