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India:Leather garment exports on the upbeat |
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2005-1-19
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It is like saying “Happy Days are Here Again” for the leather garment exporters after a three-year slump even as Indian manufacturers moved up the value chain.
This was announced by S. Audiseshiah, executive director, Council for Leather Exports (CLE), who said that the industry was seeing a rise in free on board (f.o.b.) realisations.
This was followed by increase in order volumes by the customers as revealed by the CLE’s statistics, which showed that export of leather garments in the first half of 2004-05 stood at $171.18 million, a 17 per cent growth over $146.25 million recorded in the corresponding previous period. Leather garments exports in 2000-01 stood at $460 million, the highest in the last decade.
Europe was the major destination for exports fetching both currencies equally that is, dollars and euros, with the latter appreciating against the rupee to further contribute to improved realisations. Europe was riddled with high manufacturing costs leading to imports from India and other parts, said Audiseshiah. Hence, Indian exporters should take advantage of the prevailing situation, he added.
According to N Thegarajan, managing director, Indo Skins Garments, a Chennai-based exporter, the slump in Europe could not have continued indefinitely.
He said the market there stabilised early this year even though.
There was, however, a word of caution even as the growth in the export of leather garments outstripped the total leather exports in the first half. |
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