Chennai: Around 400 exhibitors will be showcasing the products and services at the 23rd India International Leather Fair organised jointly by the Council for Leather Exports and India Trade Promotion Organisation (ITPO) commencing at Chennai from tomorrow.
Dr V.Krishnamurthy, chairman, National Manufacturing Competitive Council, will inaugurate the four-day event, This year, the event has attracted 133 overseas participants. According to Rajiv Yadav, executive director, ITPO, there are 24 participants from Italy followed by 20 exhibitors from Germany, 10 from Pakistan, nine from Thailand, seven and six from China and Mexico respectively.
Mukhtarul Amin, chairman and managing director, Superhouse Leathers Limited, who is the chairman of the Council for Leather Exports, says this year's event has attracted a large number of buyers from Europe, Africa, North America.
On the exhibition will be a comprehensive range of products and services relating to leather industry-footwear and footwear components, leather garments, fashion accessories, leather goods like travelware, purses, wallets, belts- machinery for tanning, shoe making, dryers, chemicals, stitching/sewing machines and others.
Queried about the impact on the leather exports with rupee hardening against the US dollar Amin said, "The exports increased by 9 per cent in dollar terms in rupee terms it has gone down by 3 per cent."
In the current fiscal April-September 2007, exports reached $1.66 billion as against the previous year's performance of $1.51 billion.
Though 64 per cent of the country's leather exports are to European countries the consideration is denominated in US dollar.
According to Dr K. Elangovan, executive director, Council for Leather Exports, "The Euro is also hardening against US dollar and hence the importers are forcing Indian industries to reduce their prices."
During FY07 exports of leather and leather products reached an all time high value of $2.98 billion as compared to $2.75 billion during FY06.
Footwear exports totaled $1.21 billion accounting for a share of 40.65 per cent of the total shipments.
The industry is demanding exemption from excise net so as to enable the organized sector to enter the domestic market.