Indian Economy News

Indian Footwear & Leather industry a major foreign exchange earner, employs 4.5 million people, 40% women: Mr. Piyush Goyal

The Union Minister of Commerce and Industry, Consumer Affairs, Food & Public Distribution, and Textiles, Mr. Piyush Goyal, stated that the Indian footwear and leather business is not only a big foreign exchange earner, but also employs around 4.5 million people, 40% of whom are women.

He was speaking as the Chief Guest at the India International Footwear Fair 2023 (IIFF) in New Delhi on June 29, 2023.

According to Mr. Piyush Goyal, India has the potential to become the world's largest and best-quality footwear producer. He pointed out that India is currently the world's second-largest exporter of leather apparel, third-largest exporter of saddlery and harnesses, and fourth-largest exporter of leather items. He pointed out that 95% of the manufacturing facilities in this industry are small-scale enterprises.

He said that the Indian size of footwear will soon be introduced, making it easier to identify Indian footwear throughout the world and reducing reliance on foreign sizing patterns. He advised businesses to look into Free Trade Agreements (FTAs) for technological partnerships and joint ventures in non-leather footwear, hence expanding the country's exports and strengthening the home market with Indian products.

He praised the elegance of Kolhapuri footwear from Maharashtra and Mojari footwear of Rajasthan, saying that it should be appealing to overseas shoppers as well. He also stated that India's success in this industry stems from indigenous raw materials and the country's rich and diversified past.

According to the Minister, the Government would create testing facilities as part of India's Footwear and Leather Development Programme. He also emphasised the government's efforts to make conducting business easier, such as decriminalising corporate offences, decreasing compliance requirements, and establishing a national single window for all approvals.

He urged stakeholders to develop the business while maintaining a focus on quality and sustainability, eco-friendly processes, waste management, and the exploration of renewable energy sources for power.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.