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Leather Industry in India - Analysis of Growth, Trends and Forecast (2020 - 2025)

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Indian leather industry is a USD 13 billion industry and is expected to grow to USD 25 billion in next 10 years. This industry is of special significance as it employs more than 50% of workforce below 35 years of age. Growing demand, availability of skilled workforce, rising export, ease of availability of raw material and government incentives are the major factors driving the market. Currently India stands in second place in terms of production of footwear and leather garments. Indian export of leather products grew at a CAGR OF xx.xx% in last ten years.

Availability of huge labor supply along with various sill development programs aimed at providing employment in leather industry is boosting comparative advantage of this industry. Government plans to train around 200 thousand persons annually for leather industry. Also, Footwear Design and Development Institute (FDDI) aims to capture the export market with design and fashion developments. The sector is expected to witness growth as government has allowed 100% FDI through automatic route. Government is also aiming to improve productivity of the sector though technological up gradation. Integrated Development of Leather Sector (IDLS) is an important plan of government which expect to almost double productivity of the leather industry in next 10 years.

Apart from export demand, rising domestic disposable income is also pushing the domestic demand. Demand for leather is expected to grow at a CAGR of XX.XX % in next 5 years. National Manufacturing policy (NMP) gives special attention to this sector as it is critical for employment generation. 

However, recent ban on beef in various states of India is expected to affect the nation’s raw material/hide availability for leather industry. As, cow’s hide is major source of leather in India, lower number of cow’s execution is expected to diminish the hide availability of the industry. Also, economic slowdown of major developed countries are expected to lower export of leather made products to these nations. Leather industry is causes significant amount of pollution due to tanning and crusting process which may delay environmental clearances of various projects. However, adoption of Zero Liquid Discharge (ZLD) by tanning industry is expected to solve the problem to some extent.

What the report offers

The study identifies the situation of India and predicts the growth of its Leather Industry. Report talks about growth, market trends, progress, challenges, opportunities, government regulations, technologies in use, growth forecast, major companies, upcoming companies and projects etc. in the Leather sector of India. In addition to it, the report also explains economic conditions of and forecast of its current economic scenario and effect of its current policy changes in to its economy, reasons and implications on the growth of this sector. Lastly, the report is segmented by various forms of Leather available in the country.

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