Staff Reporter
Union Minister for Commerce and Industry Piyush Goyal has said India’s leather and footwear sector, which exports goods worth around 4.5 billion dollars annually, is set to benefit from India’s expanding network of Free Trade Agreements with countries including the United Kingdom, Oman, the UAE and others.
Addressing the Council for Leather Exports National Export Excellence Awards ceremony in New Delhi, Mr Goyal said the leather and footwear sector is a key contributor to the Indian economy and urged the industry to focus on quality, finishing, sustainability and innovation to strengthen its global competitiveness.
He called upon stakeholders to make full use of upcoming international exhibitions and develop global brands by establishing warehouses and marketing networks abroad.
The Minister also encouraged collaboration with the National Institute of Design for improved product design and said Artificial Intelligence can help revive traditional Indian designs while creating new employment opportunities.
Focus on Value Addition and Innovation
To capitalize on these emerging market opportunities, Minister Goyal urged industry stakeholders to shift their focus toward higher value addition. He emphasized four critical pillars for enhancing global competitiveness:
- Quality and Finishing: Adhering to international standards to capture premium market segments.
- Sustainability: Adopting eco-friendly manufacturing processes to meet stringent global ESG (Environmental, Social, and Governance) requirements.
- Innovation: Leveraging new technologies to streamline production.
- Design Excellence: Encouraging collaboration with institutions like the National Institute of Design (NID) to modernize product aesthetics.