The revenues of Indian leather and allied product firms could decline by 10-12% this fiscal following the steep 50% tariffs by the US, noted a report by Crisil Ratings. The tariff is expected to cut the industry’s revenue by 10–12% year-on-year and slash export volumes.

The report noted that “the decline would be despite a moderate improvement in domestic demand following the rationalisation of Goods and Services Tax (GST) besides other favourable macro-economic factors such as lower income taxes, benign inflation, and low interest rates.”

Indian leather exports to US may fall 14–16%: Crisil

Leather industry relies heavily on exports and the US is a major market for domestic leather players. According to Crisil, exports make up around 70% of the industry’s Rs 56,000-crore revenue

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