Commerce and Industry Minister Piyush Goyal has said that India’s leather and footwear sector, which exports around 4.5 billion US dollars, has significant growth potential, with 38 developed countries opening their markets through Free Trade Agreements (FTAs). These countries include the United Kingdom, Oman, the UAE, and others.
Addressing the Council for Leather Exports National Export Excellence Awards 2024–25 in New Delhi, Mr Goyal said that several countries, including Ecuador, are also keen to conclude Free Trade Agreements with India, creating new opportunities for Indian exporters.
Stressing the need to diversify export destinations, the Minister noted that 77 per cent of India’s leather exports currently go to just 15 countries. He said the sector’s potential extends beyond footwear to products such as bags, wallets, horse saddles, jackets, clothing, and apparel.
Union Minister said there are few industries with as wide a range of applications as leather, noting that it is used in almost every aspect of life. He further highlighted the use of leather in upholstery, including furniture and high-end wall coverings, and said the industry caters to a vast range of products across different price points.
