Leather sector awaits Indian Budget 2005-06 on an optimistic note
24 Feb '05
2 min read
With tanning and leather products manufacturing shifting from industrialised nations to developing countries, it is felt that there is tremendous scope for improving exports from this sector.
The current level of exports is around $2bn and the Council for Leather Exports (CLE) is looking at a target of $4bn by '10. The Council expects investments to the tune of Rs 1,600 crore to flow into this sector in the medium term.
The leather industry has asked for a Rs 400-crore package to aid modernisation and help 20% growth in exports every year for the next five years. This is necessary to fight competition from rivals like China who are expanding production in a big way, they have said.
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