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Trade is considered as the engine of growth. For a developing country like India trade plays an important role for achieving the target of sustainable development. One of the major export articles for India is leather and leathermanufactures (India accounts for approximately two percent of the world trade). So it will be prudent in this light to check the present status of India’s leather and manufactures export. In this paper author has considered the problems of the Indian Leather Industry and has suggested the possible solution to these problems. Author has used Poirier’s (1974) spline function approach to estimate the growth rate of leather and leather manufactures export during pre- and post-WTO period. Instability in export earnings is measured by using Cuddy-Della Valle (1978) index.