Trump tariffs may...

Moreover, numerous entities, particularly tanneries and small leather product manufacturing units with significant exposure to the US, were shut down in the past two months.

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To combat the revenue loss and declining profitability, exporters are resorting to measures such as diversifying to other markets witha favourable duty structure and shifting/outsourcing production to other regions. However, these, according to the rating agency, are still in nascent stages and will take time to implement and bear fruit, especially given the macro uncertainty. «That said, the recently signed Free Trade Agreement (FTA) with the United Kingdom, sustained demand from markets apart from the US, and efforts to penetrate other export destinations may help contain the fall