CHENNAI: India’s leather and footwear industry is set for a robust growth hitting $47 billion by 2030 from the current levels of around $17.3 billion. The exports will more than double at $13.7 billion over the next six years.
This has been revealed in the vision document 2030 for leather & footwear industry released by the Council for Leather Exports (CLE), the export promotion council for leather, leather products, leather footwear, non-leather footwear and footwear components, functioning under Union ministry of commerce and industry in New Delhi on Wednesday.
A CLE statement here on Friday said the vision document for the footwear, leather, leather products and accessories sector outlines various aspects of the industry including the global outlook, global benchmarking and best practices, infrastructure landscape and recommendations on short, medium and long term.
Sanjay Leekha, chairman of CLE, said the vision document 2030 is aiming at increasing production and exports in the next 5-7 years and reaching the industry size of around $47.1 billion by 2030.
“The present industry size is $ 17.3 billion comprise domestic turnover of $12 billion and export turnover of around $5.3 billion. From here, the industry is looking to increase the industry size to $47.1 billion consisting domestic turnover of $33.4 billion and export turnover of $13.7 billion. It is also pertinent that out of the $47.1 billion target, the share of footwear sector (both leather and non-leather) is around 50%, which shows the importance of the footwear sector in accelerating the production and exports.”
