Target $50 Billion Export Milestone For Leather And Footwear Sector: Piyush Goyal
The DPIIT has notified two QCOs in March for the leather and footwear sector, which will become effective from August.
Commerce and Industry Minister Piyush Goyal has asked the leather and footwear industry to target $50 billion worth of exports by 2030. Interacting with the industry here on Wednesday, the minister said the ministry will address the sector's concern over quality control orders to make the certification procedure smooth and flexible.
The Department for Promotion of Industry and Internal Trade has notified two QCOs in March for the leather and footwear sector, which will become effective from August.
Manufacturers were given a chance to declare old stock before August 1 and sell the declared stock by June 30. Micro and small units and imports of soles for making footwear for export purposes are exempted from the purview of the order.
"The minister encouraged the industry to aim for a bigger vision and scale up the leather and footwear industry to the tune of $50 billion by 2030," the ministry said in a statement.
The interaction saw the participation of more than 120 stakeholders, including representatives from bodies like the Footwear Design and Development Institute, Council of Leather Exports, and Central Leather Research Institute.
Some of the prominent industry heads/leaders who attended the interaction included Puma, Nike, Adidas, Reebok, Bata, Skechers, Liberty, Metro Shoes, Red Tape, and Reliance.
India stands as the second-largest producer of footwear, contributing 10.7% of global production.
The sector contributes around 2% of India's GDP, generating employment for about 4.42 million people, consisting mainly young age population and women workforce.
The country exports goods like leather, saddlery and harnesses, leather apparel, gloves, bags, trunks, footwear, and non-leather items.
The government has rolled out the Indian Footwear and Leather Development Programme scheme, which aims at developing infrastructure, addressing environmental concerns, facilitating investments, generating employment, and increasing production in the sector.
Exports of leather and its products declined by 3.64% to $1.05 billion during April-June this fiscal. It contracted by about 10% to $4.28 billion in 2023-24.
