Union Minister of Commerce & Industry, Piyush Goyal, has announced that India's leather and footwear sector has the potential to increase employment from 40 lakh to 1 crore. He made this statement during the inauguration of the 8th India International Footwear Fair in Delhi.

Goyal emphasized that the leather and footwear industry could significantly grow its domestic and international market presence. "We have the world market to capture. We need self-confidence and an open mind to embrace change", he stated.

The Minister also discussed the introduction of Quality Control Orders (QCOs), which are designed to combat substandard and low-cost leather product imports. These measures aim to protect the Indian footwear industry from unfair competition and promote high-quality manufacturing. According to Goyal, QCOs will foster a culture of quality among domestic manufacturers, positioning India as a leading global producer of quality footwear.

Goyal announced that the government will provide retailers with a two-year period to clear existing footwear stock after the QCOs come into effect. Additionally, fashion footwear production of up to 72,000 pairs will be exempt from QCOs.

The Minister expressed optimism about India's potential to become a global market leader in footwear, noting that the country is currently the second-largest manufacturer and the ninth-largest exporter. He set a target for the industry to achieve USD 50 billion in exports by 2030. While QCOs will not apply to exports, exporters must meet their clients' quality standards.

Goyal also encouraged the industry to take advantage of Free Trade Agreements (FTAs) with ASEAN and European countries to enhance the global presence of Indian brands. He reaffirmed that micro and small enterprises under MSME will remain exempt from QCOs, supporting their continued growth and contribution to the sector.