New Delhi, Oct 23 (UNI) The leather and allied product industry in India will see revenue decline of 10-12pc per cent on-year this fiscal as 50 pc tariff imposed by the United States will slash export volume, a CRISIL report said today.

The Credit Rating Information Services of India Limited (CRISIL) report said, “Given the significant export concentration, the decline would be despite a moderate improvement in domestic demand following the rationalisation of Goods and Services Tax (GST), besides other favourable macro-economic factors such as lower income tax, benign inflation and low interest rates.”

Jayashree Nandakumar, Director of Crisil Ratings, said, “With loss of orders from the US, the export volume is expected to drop 13-14pc this fiscal. Revenue will be hit harder as the bulk

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