ILIFO is managed by Board of Directors. Mr. Habib Hussain, a leading industrialist, is the Chairman. Mr. A. Sahasranaman, IAS (Retd), the international leather industry specialist, is the Patron. The current Board of Directors are:
| Mr. Habib Hussain | Chairman | AVT Group of Companies |
| Mr. Sunil Rallan | Director | International Trading Co. Ltd |
| Mr. Shafeeq Ahmed | Director | Shafeeq Shameel & Co. |
| Mr. Ishtiaq Ahmed | Director | Vanitec Ltd |
| Mr. A.R.Senthilkumar | Director | PTIETC Ltd |
| Mr. T Rafeeq Ahmed | Director | T. Abdul Wahid & Co |
| Dr. B. Chandrashekaran | Director | Former Director, CLRI |
| Dr.. KV Emmanuel | Director | Executive Director, ILIFO |
| Mr. Israr Ahmed Mecca | Director | Farida Group of Companies |
| Mr. Abdul Wahab | Director | KHIEPL |
| Mr. N. Theagarajan | Director | MLMF |
| Mr. Abdul Rahim | Director | DINTEC Ltd. |
| Mr. S.M.Faiyaz Ahmed | Director | Thuthipet CETP |
| Mr. M.Faiyaz Ahmed | Director | Maligaithope CETP |
| Mr. R. Srinivasaraghavan | Director | SIDCO II |
| Mr. Saleem Ahmed Palmeera | Director | Pernambut CETP |
| Mr. Sreenivasa Reddy | Director | SIDCO I CETP |