India, one of the up and coming producers of leather in the global market, has reported that imports of leather goods have still risen, by 22%.
The figures come from The Associated Chambers of Commerce of India (ASSOCHAM), which reported that the country is still importing high levels of a range of goods, including coal, electronics and fruit. The growing volumes of imported leather goods are particularly notable given the Indian government’s determination to develop the country into a global hub.
“It is given that crude oil and gold and to an extent essential chemicals, and select electronic items do not have any domestic alternative and therefore, their imports are unavoidable. But close to 60% rise in imports of fruits and vegetables from $98.67 million in July 2017 to $157.47 million in July, 2018 can surely be reduced, if not eliminated by improving domestic productivity and quality,” the ASSOCHAM analysis reported.
“Same is true about coal, coke and briquettes which have witnessed a runaway upward movement in imports for the month under review, from $1.54 billion to $2.05 billion. Likewise, imports of leather and leather products saw a rise of over 225% from $79.66 million to $97.54 million, while electrical and non-electrical machinery witnessed a 30.59 per jump in imports from $2.4 billion to $3.15 billion,” it said.
For further reference, please visit: http://www.leathermag.com/news/newsindian-leather-imports-rise-6741107