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India’s Leather Industry has a potential to generate 250 jobs for every Rs 1 crore investment, the Ministry of Commerce & Industries said in its Achievement Report.
The report highlighted that India has an abundance of raw materials with access to 20% of world’s cattle and buffalo and 11% of the world’s goat and sheep population.
Globally, India is the 2nd largest producer of Footwear and 2nd largest exporter of Leather Garments.
India’s leather industry is set to grow exponentially over the next five years with a growth target of 50% in exports from 2016-20.
Per capita consumption of footwear in India is projected to increase and total domestic consumption is expected to reach up to 5 billion pairs by 2020.
The industry is highly labour intensive and employs around 3 million people out of which 30% are women. The sector has a potential to generate 250 jobs for every INR 1 crore investment, said the report.
Indian leather industry was USD 17.85 billion in size during FY2015-16 where exports accounted for USD5.85 billion and the domestic consumption was USD12 billion.[/vc_column_text][/vc_column][/vc_row]
