Union Minister of Commerce and Industry Shri Piyush Goyal today called upon the leather and footwear industry to target at least USD 15 billion in exports over the next five to six years, or even earlier, and 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 in New Delhi, Shri Goyal said the sector, currently exporting goods worth around USD 4-4.5 billion, has the potential to achieve tremendous transformation.
He urged the industry to set ambitious targets for the coming years. "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 USD 15 billion in exports.
The Minister stated that enabling conditions had been created for the sector to achieve much bigger outcomes.
He noted that India today has high-quality products, experienced artisans, cobblers and workers, and industry leaders capable of achieving significant growth.
The FTAs finalized by India were opening doors to 38 developed countries, creating new opportunities for the leather and footwear sector.