Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal said India has the potential to become a world leader in Footwear and leather sector with the efforts of both government and industry. Goyal asked the organisers to explore the possibility of encouraging new companies, entrepreneurs, startups and those who come up with innovative ideas, enter into uncharted territory with newer markets and products, by recognizing them through these awards. He suggested some niche award segments can be created for recognizing their contribution- such as rewarding those who make effective use of FTAs etc.
The Minister said as we celebrate Azadi Ka Amrit Mahotsav, we hope to achieve higher exports than last year - both in goods and services. He said while most of the developed world, who are large consumers of leather products, are going through inflation and subdued consumer spending, he was happy to get reassurance from Leather sector that it would see higher growth compared to last year. Goyal asked the leather industry to utilize the FTAs being signed by India with various countries to grow. He cited the example of UAE, where exports in the sector registered a jump of 64 percent in November last year as a result of the new agreement. The Minister emphasised that Indian Industry has huge untapped potential. He noted that while the Quality of Products manufactured is good, more focus is required on packaging and branding to get better value for the product. Indian Mission across the world can help in providing support in terms of outreach and can help connect them with international companies engaged in branding business.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Months
Smart Essential
₹2,700
1 Year
₹225/Months
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 premium stories daily, handpicked by our editors for subscribers


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app