Micro, Small & Medium Enterprises Minister Kalraj Mishra inaugurated the fourth edition of the India International leather Fair (IIlF) on Thursday.
Speaking at the function the Minister said “The Indian leather industry holds a prominent place in the economy with an annual turnover of $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 per cent share,” he said.
Mishra also informed that MSMEs contribute nearly 8 per cent to the country's GDP; constitute 45 per cent of the manufacturing output and 40 per cent of the exports.There are about 120 exhibitors, including 30 overseas companies from the countries such as China, France, Turkey, Taiwan and Iran.
“The major markets for Indian leather & leather products are Germany 12.6 per cent , UK 11.96 per cent , USA 10.51 per cent , Hong Kong 8.82 per cent, Italy 8.77 per cent, France 6.39 per cent , Spain 5.34 per cent . The total exports of India in this sector amounts to around $6 billion with a growth rate of 20 percent,” Minister further added.
“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.