West Asia conflict hits India's $200 million leather exports to Gulf
India's leather exports to Gulf countries, worth about $200 million a year, are taking a hit because of the ongoing conflict in West Asia.
Shipping delays and rising crude oil prices have pushed up costs for key materials like polyurethane.
One Chennai manufacturer shared that even if things calm down soon, it could still take months for the industry to bounce back.
Price hikes halve Bahadurgarh nonleather output
Freight rates have soared, with air shipping now three times as expensive and sea freight up more than 25%.
Nonleather footwear makers, especially in places like Bahadurgarh, Haryana, are struggling as raw material prices have jumped by 50% to 70%, forcing them to slash production by half.
On top of that, LPG supply cuts and black-market activity are making it even harder for factories to keep up with demand.