Blitz Bureau
NEW DELHI: Commerce and Industry Minister Piyush Goyal on July 7 called upon the leather industry to target at least $15 billion in exports over the next five to six years, or even earlier.
He also urged the industry to aim for a three-fold increase in its export performance by leveraging new Free Trade Agreements (FTAs), diversifying markets and strengthening quality, design, branding, sustainability and scale.
Addressing the Council for Leather Exports National Export Excellence Awards for 2024-25, Goyal said the sector, currently exporting goods worth around $4-4.5 billion, has the potential to achieve tremendous transformation.
“If I was in your shoes, or in your leather shoes, if I may say so, I would not aspire for anything less than a 3x outcome in the next five to seven years,” he said, adding that the industry could target $15 billion in exports.
Enabling conditions had been created for the sector to achieve much bigger outcomes.
Goyal said that India today has high-quality products, highly experienced artisans, cobblers and workers, and industry leaders with the experience and ability to think big, dream big and achieve big.
The FTAs finalised by India were opening the doors to 38 developed countries and creating significant new opportunities for the leather and footwear sector.
He said the UK FTA would come into force on July 15. Referring to the EU FTA, he said he had held a very good conversation with his counterpart in the European Union in Brussels.
