{
  "id": 7706116,
  "title": "Leather, footwear exports may hit $5.5 billion as UK, EU trade pacts boost growth: CLE Chairman Juneja",
  "url": "https://urgent.news/2026/09/16/leather-footwear-exports-may-hit-5-5-billion-as-uk-eu-trade-pacts",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-16T04:42:46.000Z",
  "source": {
    "name": "The Economic Times - Economy",
    "slug": "the-economic-times-economy",
    "url": "https://economictimes.indiatimes.com/news/economy/foreign-trade/leather-footwear-exports-may-hit-5-5-billion-as-uk-eu-trade-pacts-boost-growth-cle-chairman-juneja/articleshow/134278226.cms"
  },
  "original_language": "en",
  "account": "India's leather, footwear and accessories exports are projected to grow by over 12 percent year-on-year to reach USD 5.5 billion in 2026-27, with further growth anticipated in the next fiscal due to the implementation of trade agreements with the UK and the EU, according to CLE Chairman Ramesh Kumar Juneja. In 2025-26, the exports were valued at USD 4.89 billion. Juneja remarked that exports to the UK are expected to reach USD 1 billion within the next two and a half years, currently standing at USD 600-700 million annually. The India-UK Comprehensive Economic and Trade Agreement (CETA) took effect on July 15, 2026, while a similar trade pact with the European Union (EU) is set to be implemented next year. Under these agreements, Indian leather goods and footwear will gain duty-free access to the British and EU markets. Juneja informed PTI that the United States and the EU account for approximately 75 percent of India's total leather exports. The sector currently employs 4.42 million people and is well-positioned to benefit from zero-duty market access from trade partners such as the UAE, Oman, Australia, the European Free Trade Association, the UK, the European Union, and New Zealand. Juneja highlighted that the Council for Leather Exports is implementing several measures, including workshops and seminars for MSME exporters, to raise awareness about these Free Trade Agreements. Challenges faced by the sector, including the need for redressal to further boost production, exports, and job creation, were addressed by Juneja, who called for the resumption of the Integrated Development of Leather Sector (IDLS) scheme for MSMEs and the removal of the 10 percent import duty on finished leather. The council is also aiming to attract foreign direct investment to stimulate domestic manufacturing in the country.",
  "summary": "India's leather exports are projected to reach USD 5.5 billion by 2026-27. Trade pacts with the UK and EU will significantly boost these future exports. The India-UK agreement offers zero-duty access for Indian leather goods. Similar duty advantages will also be available under the EU trade pact. The sector currently employs over 4.4 million people.",
  "key_points": [
    "India's leather, footwear exports projected to reach $5.5 billion in 2026-27",
    "UK and EU trade pacts to boost growth, duty-free access expected",
    "4.42 million people employed in the leather sector"
  ],
  "editors_take": "Gaining duty-free access to the UK and EU markets through new trade agreements is set to boost India's leather and footwear exports, particularly for small businesses with targeted support.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}