Kanishk Maheshwari, Co-founder & Managing Director, Primus Partners, highlights that nearly half of India’s leather exports to the US are footwear, valued at around $500 million in 2024–25. A sudden hike in US tariffs on Indian footwear from 5–8% to 50% is set to significantly raise retail prices, making Indian products less competitive compared to those from Vietnam, Indonesia, and China. With only India and Brazil facing the steep 50% duty, he said that this move could severely impact India’s already small 1% share in the $100 billion US leather import market.