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Goyal sets USD 50 bn target for footwear industry to achieve by 2030

 

By TIOL News Service

NEW DELHI, JULY 26, 2024: UNION Minister of Commerce and Industry Piyush Goyal chaired a stakeholder interaction with the Leather and Footwear Industry yesterday in New Delhi. The Minister encouraged the industry to aim for a bigger vision and scale up the Leather and Footwear industry to the tune of USD 50 Billion by 2030.

The Minister encouraged the industry to showcase world class products with a large-scale exhibition, inviting participation from domestic and international brands. He called for synergy within the industry to develop Design Studio with state of art infrastructure and developing globally competitive footwear designs.

Goyal highlighted the importance of Quality Control Orders (QCOs) for ensuring the quality of the product for the consumer and to promote Make in India brand. He also stated that the industry will benefit with the implementation of QCOs in the long- run. To address the concern of the industry in respect of QCOs, the Minister stated that the Government will take all efforts to make the QCO certification procedure smooth and flexible for the industry. He added that micro & small units under MSME continue to be exempted from the preview of QCOs.

To ensure quality footwear for consumers and to promote Make in India brand, the Department for Promotion of Industry and Internal Trade (DPIIT) has notified two QCOs dated 15.03.2024 for the leather and footwear sector which will become effective from 01.08.2024. Manufacturers were given a chance for declaration of old stock before 01.08.2024 and selling the declared stock by 30.06.2025. Micro and Small units and imports of soles for making footwear for export purposes are exempted from the purview of QCOs.

The interaction included deliberations upon the implementation of QCOs for Leather & Footwear Sector w.e.f. 1st August 2024 and other issues pertaining to Leather and Footwear industry.

The interaction saw a participation of more than 120 stakeholders including representatives from bodies like Footwear Design and Development Institute (FDDI), Council of Leather Exports (CLE), Central Leather Research Institute (CLRI), National Productivity Council, Invest India, Bureau of Indian Standards, representatives from associations like Confederation of Indian Footwear Industries (CIFI), Indian Footwear Component Manufacturers Association (IFCOMA), representatives of Retailers Association of India (RAI).

Some of the prominent industry heads/leaders who attended the Interaction included Puma, Nike, Adidas, Reebok, Bata, Skechers, Liberty, Metro Shoes, Red Tape, Reliance, etc.

The leather and footwear industry in India is a dynamic sector driving economic growth. With its roots deeply embedded in Indian tradition and its eyes set on future possibilities, this industry exemplifies the harmonious blend of time-honoured craftsmanship and modern technology.

With immense employment and export potential, India stands as the second-largest producer of footwear, contributing 10.7% of global production highlighting the industry's capability and global competitiveness. The sector contributes around 2% of India's GDP, generating employment to approximately 4.42 million people consisting mainly of young age population and women workforce.

India is producing and exporting in various product segments such as Leather, Saddlery & Harness, Leather Apparel, Leather Gloves, Leather Goods like bags, trunks, other accessories, Leather Footwear, Non-Leather Footwear and Footwear Components

The Government is spearheading the initiatives under Indian Footwear and Leather Development Programme (IFLDP) scheme which aims at developing infrastructure, addressing environmental concerns, facilitating investments, generating employment, and increasing production in the leather & footwear sector.

The interaction concluded with closing remarks of the Minister that he is affirmative that industry will welcome implementation of QCOs with the vision of "Make in India" and "Atmanirbhar Bharat" in Indian Leather and Footwear industry.


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