Rising rupee hurting leather exporters as competing countries benefit

Depreciation in currency of competing countries hurting players further

T E Narasimhan  |  Chennai 

An appreciating rupee is bad news for the domestic leather industry, which has already seen a 50% drop in business owing to the Centre's ban on the sale and purchase of cattle for slaughter. Exporters say the country has lost competitiveness to the extent of 10-15% in the past two years due to exchange rate alone. The industry is already dealing with a situation where there is no substantial increase in orders, month-on-month, due to an increase in competition, especially from Vietnam and Bangladesh. The $12-billion Indian leather industry is among the top five in the ...

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