Wednesday, December 31, 2008
Indian Leather Industry appeal to the government
The effect of the global financial meltdown had seriously affected the Asian leather industry. After the first six months of 2008 showed positive growth many exporters faced cancellation of orders, price reduction and quantitative reduction in the later part of the year. Experts believe the demand for high end products is likely to drop more in 2009. The Chinese Government have tried to pre-empt this decline by regularly reviewing the incentives of leather industry to encourage its share in global market. There are now calls for the government to do the same in India. The Indian Leather Industry currently exports to Europe and the US and continues to receive plenty of inquires but due to the competitiveness of the market successful contracts are more elusive.