Federal Commerce Minister Piyush Goyal on Tuesday urged the leather industry to use free trade agreements (FTAs) to grow globally.
Speaking at the Leather Export Council’s National Export Excellence Awards in New Delhi, he said the FTA with the UAE had boosted leather exports to the country by 64% last November.
Goyal noted the concerns of the leather industry regarding import duties on certain types of leather and assured that they would be taken up for consideration.
He also urged industry stakeholders to take advantage of the Department of Revenue’s MOOWR scheme, where no tariffs are paid on goods being imported for export.
“This will certainly help make the business more competitive,” he added.
The Minister emphasized that India’s industry has great untapped potential.
He said the quality of the products produced is good, but more focus is needed on packaging and branding to increase the value of the products.
“Indian missions around the world can help provide support in terms of outreach and connect them with international companies engaged in the branding business,” he said.
Goyal encouraged the industry to aspire to set new goals, especially as India participates in Amrit Karl, which aims to bring inclusive growth and prosperity to all citizens of India.
“We are looking to sign more FTAs with other developed countries in the world,” he said.
He also urged the leather and footwear industry to aim for significant growth over the next 25 years and develop a plan to reach that goal.