26 Mar, 2024
The Indian Leather Products Association (ILPA), organized the curtain raiser of Leather Fashion Xtravaganza 2024, a premier showcase of cutting-edge leather products, which captivated fashion enthusiasts and industry insiders alike. This extravagant event promised to be a celebration of craftsmanship, innovation, and style, curated by the esteemed members of ILPA.
The curtain raiser for the Leather Fashion Xtravaganza 2024 offered a unique opportunity for attendees to witness firsthand the pinnacle of leather fashion, as well as to engage with industry leaders and visionaries.
The curtain raiser was graced by Mr. Arjun Mukund Kulkarni, President of ILPA, Mr. Rajarshi Dey, Mr. Md Azhar, Vice President of ILPA, and Jagdish K. Gulati, Chairman of the ILPA Fashion Show Committee.
As evidence of the high caliber and attractiveness of Indian leather goods around the world, ILPA was proud of its alliances with well-known international brands including Porsche, Gucci, Prada, MARC JACOBS, Clark’s, Zara, Mango, Diesel, Police, Max Mara, Le Tanneur, and many more. To deliver meaningful skill development programs, offer vocational training to job seekers facing financial hardship, and improve professional knowledge-sharing opportunities, ILPA was a leading representative organization for roughly 200 producers and exporters of premium leather goods.
The ILPA spokesperson spoke passionately about the association’s fundamental goals during the event, highlighting its unwavering dedication to skill development programs, vocational training initiatives designed for those facing financial hardship, and promoting opportunities for industry professionals to share knowledge. Attendees acquired important knowledge about the Indian leather industry’s substantial market worth and wide range of job opportunities. The commitment of ILPA to empowering people via training and education highlighted the organization’s critical role in promoting social and economic development in the leather industry.
The versatility and everlasting appeal of leather took center stage at Leather Fashion Xtravaganza 2024, where attendees enjoyed an extraordinary celebration of innovation, craftsmanship, and style.
24 Mar, 2024
The Indian Leather Products Association (ILPA), announces the curtain raiser of Leather Fashion Xtravaganza 2024, a premier showcase of cutting-edge leather products, which captivated fashion enthusiasts and industry insiders alike. This extravagant event promised to be a celebration of craftsmanship, innovation, and style, curated by the esteemed members of ILPA.
The curtain raiser for the Leather Fashion Xtravaganza 2024 offered a unique opportunity for attendees to witness firsthand the pinnacle of leather fashion, as well as to engage with industry leaders and visionaries.
In the esteemed presence of Mr. Arjun Mukund Kulkarni, President of ILPA, along with Mr. Rajarshi Dey and Mr. Md Azhar, Vice Presidents of ILPA, and Jagdish K. Gulati, Chairman of the ILPA Fashion Show Committee, the press meet promised to be an insightful and enriching experience for all participants.
ILPA took pride in its partnerships with renowned foreign companies like Porsche, Gucci, Prada, MARC JACOBS, Clark’s , Zara, Mango, Diesel , Police, Max Mara, Le Tanneur and many others, underscoring the global appeal and quality of Indian leather products. With a mission to impart valuable skill development programs, provide vocational training for economically challenged job aspirants, and enhance knowledge-sharing opportunities for professionals, ILPA stood as a premiere representative body of about 200 manufacturers-exporters of high-quality leather products.
During the event, ILPA’s spokesperson passionately discussed the association’s core mission, emphasizing its unwavering commitment to skill development programs, vocational training initiatives tailored for economically challenged individuals, and fostering knowledge-sharing opportunities for industry professionals. Attendees gained valuable insights into the significant market value and the multitude of employment opportunities generated by the Indian leather industry. ILPA’s dedication to empowering individuals through education and training underscored its pivotal role in driving both economic growth and social development within the leather sector.
Advertise here To book Call 6291968677
“We were thrilled to invite industry professionals, media representatives, and fashion enthusiasts to join us for the curtain raiser and press meet of Leather Fashion Xtravaganza 2024,” remarked Mr. Arjun Mukund Kulkarni, President of ILPA. “This event served as a platform to celebrate the artistry and creativity of our talented designers, as well as to showcase the unmatched quality and durability of Indian leather products.”
Attendees enjoyed an unforgettable celebration of craftsmanship, innovation, and style at Leather Fashion Xtravaganza 2024, where the versatility and timeless appeal of leather took center stage.
19 Aug, 2022
WHY DID RBI HAVE TO TAKE THIS STEP?
The instructions for Rupee Invoicing has always been there but not utilized so far as the conditions never demanded it. We did have arrangements with Iran (the UCO route) where the settlements were done in Rupees. There was earlier an arrangement with Soviet Union in which Rupee was utilized as settlement currency. The current circumstances in which there have been the economic sanctions on some countries mostly by West has made it difficult for India to trade with these countries as $ is the major de-facto currency in which settlements are done. When the West imposed sanctions on Russia the US had actually locked out Russia from accessing its dollar deposits/Reserves. Under such
circumstances when Russia gave us oil at discounted rates, we must have settled the transactions using Rupee / Rouble / Yuan thus avoiding the dollar leg. The circular from RBI says it will be applicable to all countries with whom India Trades. RBI has not only formalized the existing instructions but has added one more instruction to it that the transactions can be done in modes other than SWIFT which clearly indicates the purpose for which it has been done. This could in future allow internationalization of Rupee which may be a long driven process as it would take time for countries to accept the Rupee as a settlement currency like dollar. China started the process in 2009 but has still not been able to make Yuan as the International settlement currency.
WHAT PROBLEMS DOES ONE ENVISAGE IN INTERNATIONAL TRADE SETTLEMENTS IN INR?
1. Most currencies are pegged to the dollar as it is the main currency in which at least 70-80% of settlement is made. It is well accepted throughout the world. Most commodities prices are in dollar thus making it difficult in buying these commodities in any other way. An example is the petro dollar.
2. Rupee is a depreciating currency and those holding rupees will face its depreciating mode and thus its acceptability could be a question mark. For currency to be acceptable its attractiveness is very important. The concerned country needs to own the INR and presently INR is not one which countries would like to own except under distress circumstances.
3. At present Rupee cannot be traded overseas so the Vostro account holder cannot covert it into another currency except during Indian Trading time.
4. Apart from invoicing dollar is the dominating currency for the International Credit Market. Most ECB’s, Buyer’s Credit and Corporate Debt taken in India are denominated in $.
5. Our CAD and BOP are very volatile and occasionally go beyond the level of sustainability because of our overdependence on oil, certain commodities on other countries. In 2013 during the taper tantrum and high oil prices our CAD/GDP ratio was as high as 4.9%. Even now in 2022 our CAD which was positive in June-2021 has turned negative and the ratio could go to as high as 3-3.5% mainly due to high oil prices and the Russia-Ukraine War.
6. The macro parameters of the concerned country will also have to be checked for eg. Whether we want to deal with a country like Sri Lanka under the present circumstances.
7. The RBI has allowed investment in G Secs of the surplus rupee funds in the Vostro Account. However, all the Rupee funds cannot be invested in G Secs and we need to have a properly developed Corporate Bond Market for the same which we have not been able to develop since 1987.
8. When INR is very resilient/appreciation mode then the importer of the goods need to cover it overseas for which a properly developed INR market is required.
WHAT ARE THE ADVANTAGES OF SETTLEMENT IN INR?
1. The demand for dollar comes down and the depreciation in rupee which keeps happening on different events will come down.
2. We do not have to lock funds in keeping $ reserves for such events.
3. The dependency on Swift will come down as there will be more than one messaging system for sending messages.
4. We will be able to scale up our trade with such countries with whom we have such
arrangements.
5. There will be a structural change in way trades are conducted Globally with more of Bilateral / Multilateral trades.
6. As dollar demand comes down cost of imports will also come down.
7. More stable Rupee means better CAD and BOP.
WHAT STEPS ARE REQUIRED TO BE TAKEN IN RESPECT OF SETTLEMENT IN INR?
1. To start with Identification of countries who are having nearly the same amount of Exports and Imports so that risk in INR is minimized.
2. Incentives need to be given to the parties (exporters/importers) to do settlement in INR.
3. The instructions regarding existing incentives to continue to be given by DGFT/other concerned authorities.
4. All doubts raised by the concerned stakeholders to be solved so that the process could be started at the earliest.
5. Rupee to be made tradable outside India (Offshore market to be made vibrant)
6. Local bond market (particularly corporate bond market) to be made deep so that surplus Rupee funds from Vostro accounts could be invested in it.
7. Quick approvals of the Special Vostro accounts to be opened for this purpose. Article by Himesh Shah – Partner – Finrex Treasury Advisors LLP – 9819095511
22 Apr, 2020
Kolkata/IBNS: Indian Leather Products Association (ILPA) on Saturday held an awareness campaign as well as distributed masks, hand sanitizers and other hygiene products to the local shops and vendors at Shyambazar Market.
The senior officials and members of ILPA were also present at the event.
16 Feb, 2020
Kolkata, Feb 16 (UNI) The raging novel coronavirus in China has dealt a body blow to the leather goods industry of Eastern India as it stares at a Rs 300 crore loss.
The nCov has impacted the supply chain of the import of raw materials since the last one month. The raw materials are chiefly imported from Guangzhou and Dongzhou provinces of Mainland China, besides some items from Hong Kong.
28 Feb, 2018
The City of Joy witnessed one of the biggest fashion extravaganzas with Indian Leather Products Association’s (ILPA) ‘Leather on the Ramp 2018’ at ITC Sonar, Kolkata on Monday February 26 at a gala show. The event showcased the best of leather bags and accessories from brands like Rajda, Freya, Kompanero, Trio, Hunt and ASG giving the audience a glimpse of the upcoming trends in leather.
23 Feb, 2017
INDIAN LEATHER PRODUCT ASSOCIATION is all geared up for their annual fashion extravaganza ILPA 2017, Leather on the Ramp, The conference announcing the same was held at Gucchi, Hyatt regency Kolkata on 22nd of February. The event was a curtain raiser for the ILPA fashion show scheduled to be held on February 26, 2017.
25 Feb, 2011
KOLKATA: Next time you are at Champs de Elysees in Paris, Oxford Street in London, Fifth Avenue in New York or Orchard Road in Singapore, and are tempted by a handbag, wallet or a pair of leather gloves, just hang on. Chances are that you will get the same product, minus the label, at half the price in Kolkata.
Copyright © 2024 ILPA. All Rights Reserved. Designed & Developed By Web Hub Solution
