Leather Bags Suppliers to Gain From volatile Chinese market

I'm told leather drives men up the wall.
I like wearing it because it feels nice.
- Honor Blackman

Recent news reports highlights that the appreciation of Chinese currency will help the Indian leather industry in garnering more market share in the future. An unexpected rise in the cost of Chinese leather and leather products is forcing the US and European clients to think about setting up their manufacturing units in India.

The report further says that if the domestic industry gets its pricing right, then it could walk away with at least 5% of the Chinese exports, especially the footwear segment. As of now, footwear alone accounts for approximately 45% of the overall leather exports from India.

Leather bags suppliers are delighted over this mouth watering prospect and are quite optimistic about the surge in their sales. Though industry insiders say a cautious approach would be right to adopt as a clear picture will emerge only in the next four to six months. On top of it, the full impact of the shift will be seen after two seasons.

Experts candidly confess that China is a major competing nation for Indian leather products in the European and US markets. However, these days, Chinese products are getting costlier due to currency appreciation and increased wages which in turn is proving to be a boon for countries like India. Moreover as the Chinese economy is under pressure to become more open, such instances would further improve India's market share significantly.

It is also expected that during the current fiscal year, the European economy would show signs of improvement. This news holds relevance because EU is one of the major markets for various leather products (from India)like leather bags, leather wallets, leather goods, leather belts, leather pouches, leather jackets, leather luggage bags etc.

On the other hand, the Indian government too has taken a number of measures and relief packages for its leather industry, to the tune of 4,000 million rupees for the 10th leather plan and Rs 9130 million for 11th leather plan.

Leather bags suppliers unanimously confirm that the next six months would be crucial to judge market's behaviour and trends. Many analysts echo the sentiment, that if the Indian leather industry is keen on grabbing this golden opportunity than their production capacity as well the processing capacity of the tanning units should go through a major overhaul.

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