Leather sector to play a major role in Indian economy

February 1st, 2011 - 12:32 am ICT by IANS  

Chennai, Jan 31 (IANS) The leather industry is one of the engines of India’s economic growth with 75 percent of the industry output contributed by micro, small and medium enterprises (MSME) sector.Inaugurating the 26th India International Leather Fair (IILF) here Monday, union Minister for Micro Small and Medium Enterprises Vir Bhadra Singh, said: “The MSME sector contributes 40 percent of the country’s exports. It would continue to play a major role in the future also providing majority of the employment opportunity.”

He assured the leather exporters that the government would do what ever the industry requires for growth.

The IILF is organised by Indian Trade Promotion Organisation (ITPO) and Council for Leather Exports (CLE).

Speaking at the function, CLE Chairman Rafeeque Ahmed said the size of the Indian leather industry is estimated to be in the region of $7 billion of which nearly $3.5 billion comes from exports.

The four-day fair is expected to attract around 20,000 visitors. The current year’s event will be the largest in the fair’s history as it covers around 9,000 sq metres of exhibition space.

Around 410 companies will be showcasing their products/services of which 129 are from 20 overseas countries.

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