If Indian textile industry wants to grow, then investment in these three textile zones is a must. Because these are also important tourist destinations, they will see a significant amount of traffic, and this will aid in increasing the amount of output and also increase employment rates.
Often, your love for luxurious leather goods ends in you purchasing Louis Vuitton handbags, Clarks shoes, or Burton suits, without realizing that some of the finest leather products on the market are produced in India. In the present, India is one of the most rapidly growing manufacturing centers for leather products. In a market flooded by French and Italian companies, Indian leather products have carved its own niche in the world sector of leather goods. Here's how.
Indian leather manufacturers realize that they require to boost exports in order to maintain or increase their market share in important markets like that of US, Japan, China and other European countries. These days, majority of buyers around the globe prefer purchasing goods from emerging countries such as India. This is due to the fact that Indian products are less expensive than those of developed nations. Indian exporters, too, are aware they will in time as they continue to expand their business aggressively they'll have the ability to obtain good returns on investments.
The competition among Indian exporters for global contracts increasing they are looking at new methods to draw customers. One such measure is reducing import duty on some goods that are sold to western countries. Imports of raw hides and clothes have been regulated under the Indian Ministry of Foreign Affairs since nineteen seventies. Today, even machinery and transportation equipment, appliances, and chemicals are being imported to increase the competitiveness of Indian leather industry. According to a World Trade Organization study, Indian exporters are among the countries with the lowest level of customs duties on textile imports.
Apparel imported from India includes dresses, shawls bed sheets, scarfs as well as socks, shoes and gloves. An investigation conducted at the end of September in 2021 conducted by Leishman revealed that Indian exporters are exporting apparel which is much cheaper than the price of leather. Moreover, Indian textiles have some of the finest qualities in terms of quality, durability and color. They also are known for making use of the finest quality of leather and the best manufacturing methods. Based on the Indian Ministry of External Affairs in the last four years, numbers of imports has increased by forty percent. Over the same time period the amount of exports has declined by twenty percent.
According to a report by IDFC, Indian exported merchandise declined by eleven percent in fiscal year 2021, in comparison to the previous year. However, the decline was not as significant as the declines that happened in other countries like China or Taiwan. The reason for the decline could be due to the introduction of foreign exchange earners into the Indian leather sector. According to a research conducted by IDFC, Indian exporters are losing millions of dollars to foreign exchange earners who are buying products made of leather on Indian markets.
However, this issue can be resolved if Indian manufacturers will start investing more money in the development and research of new tanneries. This will enable them to solve the issue of oversupply of raw materials. In the present, there are only three tanneries in the entire Indian countryside which can churn out leather products with profitable rates. These are located at Kolkata, Tamil Nadu and Gujarat.
On the other hand If Indian leather manufacturers are unable to invest in research and development of better tanning processes, then they could be faced with challenges in bringing forth top-quality and innovative leather products. It is certain that investing in research and development for innovative processes and equipment could take a lot of money but the return are often huge. Since the demand for hand-made exports from the world will not decrease, the export profits from this industry can augment as well. So, this little investment will help the small and emerging textile producers to grow and thrive. At the end of the day, they'll be able to meet the expectations of their customers , which is to provide the best quality items at the lowest possible prices.
Kanpur as well as Bikaner are two of the most famous leather regions located in the Eastern part of India. These two cities boast numerous leather and textile manufacturing facilities that churn out products in all forms. There are numerous export textile factories and warehouses in this region. Some of the biggest companies producing high quality leather products include MNCPs like Vishwa, Essar, Hindustan Shipyard Co. Ltd and MMC Asia. Apart from these there are many small-scale businesses located here that produces things like Ghee, waki and Khadi and sarees.
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