Page 2 - Footwear Manufacturers
Footwear, readymade garments likely to attract higher rates of GST
The fitment committee, which recommends rate changes to the Council, has proposed increasing the rate on footwear (less than Rs 1,000), readymade garments, and fabrics to 12% from 5% now
 "Footwear, readymade garments likely to attract higher rates of GST")
Bata India appoints ex-Britannia exec Gunjan Shah as country CEO
Shah takes over next month; Sandeep Kataria, Bata India's current CEO, has been elevated to the position of global CEO
 "Bata India appoints ex-Britannia exec Gunjan Shah as country CEO")
Indian footwear makers' topline to grow 25% in FY22 on low base: Report
After revenue contraction by over a fifth in the pandemic-impacted FY21, the Indian footwear sector can look forward to a 25 per cent jump in toplines in FY22
 "Indian footwear makers' topline to grow 25% in FY22 on low base: Report")
Adidas expects strong rebound in 2021, takes Reebok hit
Adidas said last month it plans to sell or spin off Reebok
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Plug-and-play model the missing link in leather, footwear sector: R Selvam
India is the second largest global producer of footwear with 2.6 billion pairs/year in 2019, whereas China ranks first with 13.47 billion pairs
 "Plug-and-play model the missing link in leather, footwear sector: R Selvam")
Govt releases quality control norms for leather footwear to contain imports
According to a DPIIT notification, the products would have to conform to the specified standards and bear the standard mark under a licence from the Bureau of Indian Standards (BIS)
 "Govt releases quality control norms for leather footwear to contain imports")
Bata India re-rating hinges on strong show by revenue spinning premium biz
Analysts believe Bata's margin and earnings growth would see relatively more pressure than players like Relaxo Footwears
 "Bata India re-rating hinges on strong show by revenue spinning premium biz")
Trade blocks against China spell opportunity for Indian footwear sector
The silver lining, however, is that if the industry checks certain boxes it could over time tap the export vacuum China will leave behind
 "Trade blocks against China spell opportunity for Indian footwear sector")
German footwear brand Von Wellx shifts production from China to India
Production will now happen at Agra in collaboration with Iatric Industries; German brand is sold in 80 countries and has over 100 mn customers worldwide
 "German footwear brand Von Wellx shifts production from China to India")
Footwear industry says it lost export orders worth $1 bn due to Covid-19
Says it may require support from government in the form of reduction in GST, especially for footwear priced above Rs 1,000
GST impact: Footwear manufacturers rue high tax, dual rates
GST can hit the growth prospects of Rs 30,000-crore domestic footwear industry
 "GST impact: Footwear manufacturers rue high tax, dual rates")
