Export of leather and leather products and footwear declined by 40.5% to $244.89 million in June 2020 from $411.38 million in June 2019 due to COVID-19 pandemic. However, they have recovered from nearly 83% fall in April-May 2020.
“This is a significant turnaround and very good news, as the sector is still under semi-lockdown and had achieved only about 17% of last year’s exports in April and May 2020,” Aqeel Ahmed Panaruna, chairman, Council for Leather Exports said.
For combined April and May 2020, exports stood at $128.52 million when compared to $757.11 million the same period last year.
Due to very low level of exports in April and May, the sector was able to achieve exports of $373.41 million in the first quarter (April-June 2020), which is just 32% of $1,168.49 million recorded in April-June 2019.
“Our industry is confident of achieving more revival in exports during the second quarter of July – September 2020 wherein about 85% of last year’s exports are expected to take place, provided there are no further lockdowns,” Mr. Panaruna said.
However, he pointed out that the exports during the third quarter i.e. October – December 2020 depends on market resurgence and the sale of inventories currently available with the buyers.
“Nevertheless, despite the challenges and difficulties being faced now, the emerging trade opportunities for India in the wake of changes in global trade scenario will help us in achieving last year’s export level of $5 billion, during the current year i.e. 2020-21 also,” Mr. Panaruna said.
