New Delhi,Kalraj Mishra Union Minister for Micro, Small & Medium Enterprises inaugurated the fourth edition of the India International Leather Fair, a three-day B2B event of the India Trade Promotion Organizations (ITPO) here today. Speaking at the function the Minister said that the Indian Leather industry holds a prominent place in the economy with an annual turnover of USD 11 billion. This is an employment intensive sector, providing jobs to about 2.5 million people in the country. Women employment is predominant in leather sector with about 30% share.
The Minister further added that the major markets for Indian leather & leather products are Germany (12.60%), UK (11.96%), USA (10.51%), Hong Kong (8.82%), Italy (8.77%), France (6.39%), Spain (5.34). The total exports of India in this sector amounts to around $6 billion with a growth rate of 20%.
MSME sector plays a key role in the development of economy of the country with their effective, efficient and innovative spirit. Keeping in view, the role of MSME and its scope for further growth, ITPO has provided space at the fair, free of charge under Corporate Social Responsibility (CSR) to various artisans/craftsmen of the leather cluster giving opportunity for exploring possibility of marketing of their products at national and international levels.
There are about 120 exhibitors, including 30 overseas companies from the countries such as China, France, Turkey, Taiwan and Iran.
“Trend Wall” is the theme of the fair, highlighting Indian expertise in the design development of exquisite and high quality leatherwear from finished leather through leather products.