Fuelled by exports, leather units to turn the corner: CRISIL SME Tracker

Fuelled by exports, leather units to turn the corner: CRISIL SME Tracker

India’s leather industry, which is dominated by small and medium enterprises (SMEs), with 12,000-14,000 units and about Rs 67,000 crore in revenues, appears set to turn the corner after taking a hit over the past 18 months due to muted global demand, made worse by the pandemic. As per Directorate General of Foreign Trade data, the year-on-year decline in export value was a mere 5 per cent in the second quarter of FY2021, compared with 55 per cent in the first.

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