Kanpur based leather exporters are facing major losses as shipments worth over ₹500 crore (~$54 Million) are stranded near the Strait of Hormuz due to regional conflict, raising alarms in Uttar Pradesh’s leather industry, according to Times of India.
The Council for Leather Exports confirmed several consignments are affected. The blockage has disrupted supply chains and delayed deliveries to major overseas buyers.
“Ready products are either lying in factories or are stuck in transit”
– Asad Iraqui, Regional Chairman, Council for Leather Exports
Exporters also worry about rising global oil prices, which would hike transportation and production costs.
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