Piyush Goyal Aims to Boost India's Footwear Industry Employment to 1 Crore

Union Minister Piyush Goyal launched the 8th India International Footwear Fair, advocating for the expansion of India's leather and footwear industry. Goyal emphasized implementing Quality Control Orders (QCOs) to enhance quality and competitiveness, predicting significant employment growth and a target of USD 50 billion in exports by 2030.

Union Minister of Commerce & Industry Piyush Goyal announced that India's leather and footwear industry could boost employment from 40 lakh to 1 crore. He made the statement while inaugurating the 8th India International Footwear Fair in Delhi on Thursday.

Highlighting the industry's potential, Goyal said, "We have the world market to capture. We need self-confidence, an open mind to accept change." He emphasized that Quality Control Orders (QCOs) would prevent substandard, low-cost leather product imports, fostering a quality-first culture among domestic manufacturers and helping India become a world-class footwear producer.

Discussing the liberalized QCO guidelines, Goyal mentioned a two-year grace period for retailers to clear existing stock post-implementation and exemptions for fashion footwear manufacturing up to 72,000 pairs. He expressed confidence that India could become the global market leader in footwear manufacturing, currently ranking as the 2nd largest manufacturer and 9th largest exporter.

Targeting USD 50 billion in exports by 2030, Goyal urged the industry to utilize Free Trade Agreements (FTAs) with ASEAN and European countries to globalize Indian brands. MSME units will remain exempt from QCOs, ensuring smaller players continue to operate without added regulatory pressure.

(With inputs from agencies.)