India’s leather industry has emerged as the “principal gainer” among leather-exporting nations to the European Union following the recent trade pact, which saw the tariffs cut to zero from 17% earlier, CareEdge Ratings said. The rating agency said the cost competitiveness of labour-intensive Indian leather and footwear products in the European market has significantly improved after the India-EU trade deal brought its tariffs to zero at par with competing countries such as Bangladesh, Turkey and Vietnam. China continues to face tariffs of 16–17%, among the highest for leather exports.