Summary:

Commerce and Industry Minister Piyush Goyal has urged the leather and footwear industry to target $50 billion in exports by 2030. Speaking at the India International Footwear Fair, he emphasized the sector's potential to increase employment from 4 million to 10 million. Mr. Goyal highlighted the importance of utilizing India's free trade agreements and developing a strong brand for leather products. Currently, India exports nearly $5 billion in leather goods, making it the world's ninthlargest exporter. He aims for India to surpass its current position as the world's second-largest producer, stressing the importance of design and quality.

To support this expansion, the commerce ministry has proposed a Rs 2,600 crore (US$ 312.42 million) production-linked incentive plan for leather and footwear. The minister also highlighted the need for industry collaboration on quality control orders (QCOs), noting that these do not apply to exports. Additional time for compliance, especially for fashion footwear with legacy stock, has been granted.

Source: IBEF 

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