Public thanks from industry leaders in Kanpur over tariff improvements
Senior figures from India’s leather industry have publicly thanked the country’s prime minister, Narendra Modi, for securing a new trade agreements with the US and the European Union (EU).
In total, seven industry leaders based in and around Kanpur joined forces to take out space in the Lucknow edition of daily business newspaper the Financial Express to pay tribute to the deals.
The US has cut tariffs on imports from India from 50% to 18%. Chairman of the Council for Leather Exports for the central region, Asad Iraqi, said this would provide “much-needed relief” for traders and exporters. He said there was optimism among leather and leathergoods manufacturers in the region that improved market access can lead to an expansion in production capacity.
With regard to shipments to the EU, the managing director of leather manufacturer Kings International, Taj Alam, said tariffs of around 17% at the moment could fall to zero in 2027 if the new trade agreement comes into force. Mr Alam said this would give Indian manufacturers a larger share of the European market.
