New Delhi, Feb. 18 -- India's leather industry is expected to gain significantly from the recent India-European Union (EU) Free Trade Agreement (FTA), with import tariffs on Indian leather and footwear products reduced to zero from around 17 per cent, according to CareEdge Ratings.

The ratings agency said the tariff elimination improves the cost competitiveness of Indian products in the European market, placing them on par with exporters such as Bangladesh, Turkey and Vietnam. China, by contrast, continues to face duties of 16-17 per cent on leather exports to the EU.

The move is projected to support India's leather exports of about USD 2.4 billion and help domestic firms expand their share in the EU's leather and footwear import market...