Piyush Goyal Aims to Boost India’s Leather and Footwear Industry to $50 Billion by 2030
Union Minister of Commerce and Industry, Piyush Goyal, has called on stakeholders in the Leather and Footwear industry to scale up to USD 50 billion by 2030. During an interaction in Delhi, he encouraged the industry to showcase world-class products through a large-scale exhibition, inviting both domestic and international brands.
Quality Control Orders (QCOs)
Goyal highlighted the importance of Quality Control Orders (QCOs) for ensuring product quality and promoting the Make in India brand. He assured that the government would make the QCO certification process smooth and flexible, with micro and small units exempted from QCOs. The Department for Promotion of Industry and Internal Trade (DPIIT) has notified two QCOs for the leather and footwear sector, effective from August 1, 2024.
Industry Participation
The interaction saw over 120 stakeholders, including representatives from the Footwear Design and Development Institute (FDDI), Council of Leather Exports (CLE), Central Leather Research Institute (CLRI), and other key organizations. The leather and footwear industry in India is a dynamic sector, contributing around 2% of India’s GDP and employing approximately 4.42 million people.
Indian Footwear and Leather Development Programme (IFLDP)
The Government is leading initiatives under the Indian Footwear and Leather Development Programme (IFLDP) to develop infrastructure, address environmental concerns, facilitate investments, generate employment, and increase production in the sector. India is the second-largest producer of footwear, contributing 10.7% of global production.
Doubts Revealed
Piyush Goyal -: Piyush Goyal is a politician in India who works for the government. He is responsible for making decisions about trade and industry.
Leather and Footwear industry -: This industry makes things like shoes, bags, and belts from animal skin. It is important for jobs and the economy in India.
$50 billion -: This is a very large amount of money. It means 50,000 million dollars, which is a goal for how much the industry should be worth by 2030.
2030 -: This is a year in the future. It is 7 years from now.
Quality Control Orders (QCOs) -: These are rules to make sure products are made well and are safe to use. They help keep the quality high.
Make in India -: This is a campaign by the Indian government to encourage companies to make their products in India. It helps create jobs and boosts the economy.
micro and small units -: These are very small businesses with few employees. They often need special help to grow and succeed.
2% to India’s GDP -: GDP stands for Gross Domestic Product, which is the total value of all goods and services made in a country. 2% means this industry is a small but important part of India’s economy.
4.42 million people -: This is the number of people who work in the Leather and Footwear industry in India. It is a very large number of jobs.
Indian Footwear and Leather Development Programme (IFLDP) -: This is a government program to help the Leather and Footwear industry grow. It provides support and resources to make the industry better.
