New Delhi [India], August 9 : Union Minister of Commerce & Industry Piyush Goyal stated that the leather and footwear industry of the country has the potential to raise employment in the sector from the current 40 lakh to 1 crore.
The minister stated it while inaugurating the 8th India International Footwear Fair in Delhi on Thursday. He highlighted that the leather and footwear industry has the ability to expand its market domestically and abroad.
"We have the world market to capture. We need self-confidence, open mind to accept change" said Goyal.
The minister also added that the implementation of Quality Control Orders (QCOs) will help prevent substandard, low-cost leather product imports and help save the Indian Footwear industry from unfair competition. He stated QCOs will help inculcate a spirit of quality among the domestic manufacturers, enabling India to become a world-class manufacturer of quality footwear.
On liberalising the QCO guidelines, Goyal said that the Centre will give retailers two years to dispose of the existing footwear stock post application of the order. He also noted that fashion footwear manufacturing up to 72,000 pairs will not have to go through QCOs.
Minister Goyal asserted that India is poised to become the market leader in the world. He also expressed hope for the footwear industry to become the world's largest manufacturer. Currently, India is the 2nd largest manufacturer and 9th largest exporter of footwear.
The Minister also said that a target of USD 50 billion in exports by 2030 is achievable. He pointed out that QCOs don't apply to exports but the exporters have to meet the quality requirements of their clients.
The Minister urged the industry to leverage the Free Trade Agreements (FTAs), especially with ASEAN and European countries and work towards making Indian brands global.
Earlier the minister also highlighted that micro and small units under MSME would continue to be exempted from the purview of QCOs.
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