THE FALLOUT: India’s leather industry, valued at $5.7 billion (Rs 50,160 crore) in exports during 2024–25, faces a sharp setback with the Trump administration’s punitive tariffs. The US, which absorbed 21.7 per cent of Indian leather exports in FY25, has overnight become a difficult market to access. The numbers highlight how crucial the US is as a buyer: in 2023-24, America accounted for over 19 per cent (Rs 8,025 crore) of the $4.8 billion (Rs 42,240 crore) worth of leather goods exported.
