Euro Zone crisis considerably affected Indian leather industry
Sai Nikesh | The Dollar Business A decline in value of Euro followed by the crisis in Euro Zone is likely to have negative effect on India’s exports to European region, which accounts for around 18%-19% of India’s total exports. The exports from key areas like Leather and Gems & Jewellery, which hold a major contribution in India’s total exports to the region were said to have witnessed a negative effect in the initial months of the current fiscal due to the Euro Zone crisis. Speaking to The Dollar Business, M Rafeeque Ahmed, Chairman, Council for Leather Exports (CLE), Ministry of Commerce, Government of India, said, “European Union accounts for a significant share (65%) of leather exports from India. But, the ...
