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CRISIL Ratings

Slowdown Effect / Indian Leather

23 January 2023

2 minutes

Leather hides being dried on a tannery rooftop. About 85–90% of the production by the $2.25 billion Indian leather apparel and accessories industry is exported. Europe and North America account for ~75% of this amount.

Slowdown in Europe and US: Indian Leather Industry to See 8% Revenue Drop

The slowdown in consumer demand in Europe and the United States is set to impact the Indian leather apparel and accessories (comprising bags, belts, and harnesses) industry, with revenues predicted to decline 7–8% in fiscal 2024.

By

Staff Writer

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