India–US Trade Deal Paves Way for Leather Export Boost

The India–US trade deal reduces tariffs on Indian goods and promises increased exports of leather products. Trade agreements with the US and EU provide stability amid volatile conditions. CLE Chairman Ramesh Juneja sees potential for doubling exports to the US as barriers are lowered.

The Council for Leather Exports (CLE) announced that the new trade deal between India and the United States will enhance the competitiveness of Indian products in the US market. This agreement follows a similar pact with the European Union, aimed at strengthening India's export capability by reducing tariffs.

The US has agreed to decrease tariffs on Indian goods from 50% to 18% in exchange for India ceasing Russian oil purchases and importing from the US and potentially Venezuela. CLE Chairman Ramesh Juneja emphasized that these strategic trade moves come at a crucial time, as export sectors face geopolitical pressures.

Both the EU and the US are key markets for India's leather exports, and these deals are expected to stabilize an export ecosystem challenged by thin margins and heavy competition. With these agreements, Indian exporters gain a level playing field, potentially doubling exports to the US in the coming years.

(With inputs from agencies.)