India-US Trade Deal to Boost Leather, Footwear Exports: CLE

• The Council for Leather Exports (CLE) announced that the India-US trade deal will enhance the competitiveness of Indian leather and footwear products in American markets.
• US President Donald Trump agreed to reduce US tariffs on Indian goods to 18% from 50%, in exchange for India lowering trade barriers and purchasing oil from the US instead of Russia.
• This deal, following a free trade pact with the European Union, is expected to significantly strengthen India's export ecosystem and provide stability to exporters.
• The EU and US collectively account for approximately 66% of India's leather and footwear exports, with 23% going to the US.
• CLE Chairman Ramesh Juneja stated that the deal restores a level playing field for Indian exporters, potentially doubling exports to the US if zero reciprocal tariffs are achieved.

Why It Matters: India-US trade deal, coupled with EU pact, is set to significantly boost India's leather and footwear exports.