Tamil Nadu has attracted over ₹6,000 crore in investment in the last one year, after the State government released its footwear and leather policy in 2022, Rajendra Kumar Jalan, chairman, Council for Leather Exports (CLE), has said.
ADVERTISEMENT
The favourable policies from the Central and State governments, including Tamil Nadu, are making global brands invest in India, he told reporters in Chennai.
Israr Ahmed Mecca, regional chairman (South), CLE, said Tamil Nadu could account for $10 billion of sports footwear exports in five years.
ADVERTISEMENT
“The global sports footwear exports are about $132 billion and India accounts for only $200 million, with Tamil Nadu having a major portion. A lot of players are coming to Tamil Nadu. The State government’s policy has focused on taking industries across districts,” Mr. Mecca said.
Both Mr. Jalan and Mr. Mecca pointed out that the Indian leather industry was facing challenges from issues like the Russia-Ukraine war and the Israel-Palestine crisis.
On the Red sea crisis, they said that though the freight rates had gone up, there had not been much impact. They added the prospects for the leather industry in 2024 were better, especially in export markets like the U.S.
The 37th edition of India International Leather Fair (IILF) will be held at Chennai Trade Centre from February 1 to February 3. IILF 2024 has attracted more than 450 exhibitors. CLE, sponsored by the Union Ministry of Commerce and Industry, is also organising a concurrent event, Designer Fair, wherein about 38 overseas and Indian designers will display their design prototypes and innovations.
Pradeep Singh Kharola, chairman & managing director, India Trade Promotion Organisation, said Tamil Nadu had become a leather capital. With the expansion of Chennai Trade Centre, the fair would attract more exhibitors in the future, he said.