On Saturday, Piyush Goyal, the Commerce and Industry Minister said he is hopeful of India finalising certain free trade agreements (FTAs) in the next few months, which would help promote exports. India is in the final stages of concluding FTA negotiations with the UK. The country is also negotiating similar pacts with Canada and the European Union (EU).
The minister also asked the industry to focus on quality and sustainable manufacturing processes to tap business opportunities in the developed world.
The Indian footwear and leather industry is not only a major foreign exchange earner but it also provides employment to approximately 4.5 million people, being a labour-intensive sector, with 40 percent women.
Goyal further said that Indian size of footwear will be launched soon to help distinguish Indian footwear around the globe and reduce dependence on foreign sizing trends.
He suggested increasing the export of the country and enhancing the domestic market with Indian products with industrialists exploring FTAs for technological collaborations, joint ventures of non-leather footwear.
Goyal also highlighted the beauty of Kolhapuri footwear of Maharashtra and Mojari footwear of Rajasthan, stating that it should be an area of attraction for international buyers as well.
Goyal urged the stakeholders to expand the business while keeping the focus on quality and sustainability, eco-friendly process, waste management, and exploring renewable sources for electricity.
He further added that, “Not only do we need to enhance our design capabilities to move up the value chain, but also bring in more investments and technology to scale up the production and produce innovative products.”
