Piyush Goyal Highlights Growth Potential in Leather Sector

Union Minister for Commerce and Industry Piyush Goyal recently emphasized the critical role of India’s leather and footwear sector in strengthening the national economy. He noted that this industry not only significantly contributes to the GDP but also plays an essential role in job creation and boosting exports. The leather and footwear industry is a major player in India's economic landscape. It accounts for approximately 13% of the total exports, showcasing its importance on the global stage. With around 4.42 million people employed, it stands as one of the largest employment generators within the manufacturing sector. India's leather and footwear exports are valued at around ₹75,000 crore, reflecting strong global demand for Indian products. Goyal highlighted that the government is committed to enhancing this export potential through various initiatives aimed at improving quality and competitiveness in international markets. To support the leather and footwear industry, the Indian government has introduced several schemes. These include financial assistance for technology upgrades, skill development programs, and incentives for sustainable practices. Goyal expressed the government's dedication to creating a supportive environment for the growth of this vital sector. To strengthen the workforce further, the government is launching skill development programs tailored to meet industry needs. These programs aim to equip workers with the necessary skills to adapt to modern manufacturing processes and technologies. Looking forward, Goyal expressed optimism about the future of India's leather and footwear industry. He believes that with the right support and policies, the sector has the potential to achieve even greater heights in production, employment, and exports. The minister urged industry stakeholders to collaborate with the government to realize these ambitious goals. In conclusion, Piyush Goyal's remarks highlight the pivotal role of the leather and footwear industry in India's economic framework. With ongoing government support and a focus on skill development, this sector is poised for significant growth, contributing further to the nation's prosperity. Based on reports from Google News — Indian Economy.