India has the potential to become a world leader in footwear, and leather: Piyush Goyal

Union Commerce and Industry Minister Piyush Goyal said on Tuesday that India has the potential to become a world leader in the footwear and leather sector. Addressing the gathering at the National Export Excellence Awards Council for Leather Exports, Goyal asked the organizers to identify through these awards new companies, entrepreneurs, startups, and those coming up with new ideas and venturing into uncharted territory with new markets and products. Explore the possibility of encouraging entrants.

More exports expected in goods and services

The Commerce and Industry Minister said that the industry is expected to achieve higher exports in both goods and services as compared to last year. He asked the leather industry to utilize the Free Trade Agreements (FTAs) being entered into by India with various countries for development. The minister cited the example of the UAE, where the new agreement resulted in a 64 percent increase in exports to the region in November last year.

Request to take advantage of the scheme

Goyal noted the concerns of the leather industry regarding import duty on certain types of leather and assured that it would be looked into. He also urged the industry stakeholders to take advantage of the MOOWR scheme by the Department of Revenue, wherein no duty is to be paid on goods being imported for exports.

Need to focus more on packaging and branding

Commerce and Industry Minister emphasized that the Indian industry has huge untapped potential. He said that despite the good quality of the manufactured products, there is a need to pay more attention to packaging and branding to get better value for the product. He added that Indian missions across the world can help provide assistance in terms of outreach and help connect them with international companies engaged in the branding business. He encouraged the industry to set new targets.

Government trying for more FTAs

Goyal said that the government is trying to enter into more FTAs with other developed countries of the world. He urged the leather and footwear industry to target significant growth in the next 25 years and prepare a plan to achieve those targets. He asked them to explore new areas and manufacture new products in India for import substitution.

Government ready to amend any standard

The minister assured that the government is ready to amend any norm that harms the interests of the industry. He assured full support in terms of setting up testing facilities and laboratories anywhere in the country to meet the needs of the industry.

Government working on preparing a new plan

Goyal informed that the government is working on formulating a new scheme to support the manufacturing of essential machinery in the industry. He asked the industry to take advantage of all the schemes of the government.

Focus on product innovation and sustainability

Commerce and Industry Minister asked the industry to focus on innovation and sustainability in their products. He also called for new collaborations with international companies to bring high-quality products to India. The Minister talked about some of the areas with immense potential like Kolhapuri chappals and asked the young entrepreneurs to regularly move forward and explore new designs/branding in this area.

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