India Leather Industry Has Poor Prospects For Fiscal Year 08.

As labor costs continue to rise, the India leather sector's ability to bear is close to the bottom line. Leather experts worry that the future of leather industry will become more and more difficult.

The leather industry is a labor-intensive industry, but in the past 6 months, about 8000 workers in India have been unemployed. 4000 of the leather enterprises in Tamil Nadu, Agra and Kanpur are unemployed.

10000 employees may lose their jobs by the end of March 2008.

In 2007, the leather Department of India was sad and pleased.

In the 4-9 months of 2007, India's leather exports increased by 15%, exports reached 3 billion 100 million, and leather exports decreased by 9-11 in the 9-11 month.

This is because rupee continued to appreciate against the US dollar last year, and rupee appreciated 8% against the US dollar in 9-11 months.

So the leather sector is also the most serious loss in this quarter.

Leather production has shrunk by 9%, resulting in a large number of layoffs to reduce operating costs.

In the 2008 fiscal year, the target of increasing export growth by 15% is very slim. Compared with the growth rate of 11% in the 07 fiscal year, it may linger around 7% in the next 08 years.