KOCHI: Reduction in duty drawback incentive and delay in GST refund may take the sheen of Indian leather exports that have been witnessing a downward trend in the last couple of years. In 2016-17, the leather exports had dropped by 3.2% from previous year to $5.6 billion. After peaking to $ 6.5 billion in 2014-15, leather exports have been on a gradual decline. However, the US is doing better," said Rafeeque Ahmed, president of All India Skin &Hide Tanners &Merchants Association (AISHTMA).Leather footwear accounts for largest share of leather exports. But their share has plunged 30% in the last three years," said N Shafeeq Ahmed, chairman of Indian Finished Leather Manufacturers and Exporters Association.Other Asian countries like China, Vietnam and Bangladesh seem to be stealing India’s thunder in leather exports.

Source: Economic Times November 10, 2017 07:41 UTC