Kanpur: Market and product diversification are the two areas where Indian Footwear industry is now giving more emphasis, said Mukhtarul Amin, chairman, Council for Leather Export (CLE) while discussing the status of Indian Footwear Industry and the areas of Cooperation and growth at the 36th international footwear conference held at Dhaka (Bangla Desh) on Wednesday.
He said as part of market diversification efforts, the industry is targeting the markets in Russia, Eastern Europe, Latin and Central America, he told the delegates about the position of Indian footwear segment in the international market. Talking about strategies for growth, he said 100% Foreign Direct Investment(FDI) has been allowed in the footwear sector India.
Highlighting infrastructural development taking place in the footwear sector
in India, and the importance being given to design development, he said that as a part of development strategy, the Government of India was providing 70% assistance of the project cost as grant-in-aid for the creation of mega leather clusters.
Many projects have either been cleared for implementation or are under active consideration of the Government of India was providing 70% assistance of the project cost as grant-in-aid for the creation of mega leather clusters.
Many projects have either been cleared for implementation or are under active consideration of the Government of India, he Informed.
The CLE chairman also presented the current export scenario of footwear and the growth projection in India. “Export of footwear from India is projected to grow at 15% and would reach 4,219 million USD in 2019-2020 compared to the present level of 2,775 million USD.Likewise, the domestic footwear market in India is also projected to grow at 15%, and would reach 15,209 million USD in 2019-2020 from the current level of 2016-17″, he said.
Represented of fourteen leather industry associations of China, HongKong, Japan, Korea, Taiwan, Indonesia, Vietnam, Malaysia, Philippines, including CLE(India), are participating in the conference.
Tofail Ahmed, minister for commerce, Government of Bangladesh, was the chief guest at the conference which was hosted by Leather Goods and manufacturers’ and Exporters’ Association of Bangladesh(LFMEAB).