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Hindustan Times
23-05-2025
- Business
- Hindustan Times
AMID US-China tariff war:UP hopes to get $120 mn investment in footwear industry
With the state government stepping up efforts to woo investors in the footwear industry, some companies currently operating in China have shown interest in setting up their units in Uttar Pradesh. If all goes well, the state may get investment of USD 120 million in the footwear industry in Kanpur or Agra in the next 18 months to two years, people aware of the developments said. The investment is likely to lead to the creation of job opportunities for one million people, they added. The state government will soon bring out a policy for the footwear industry with attractive incentives to woo companies willing to set up their units out of China fearing the adverse impact of the tariff war between China and the USA, those aware of the development said. 'Yes, there is a definite interest from some companies that can invest, in the next one-and-a-half to two years, about USD 120 million and provide jobs to around one million people,' said principal secretary, industry, Alok Kumar. Kumar, along with director, Industry, K Vijayendra Pandian visited China from May 14 to 18 as part of the Council for Leather Exports delegation that included CLE chairman RK Jalan. 'If we want to be world leaders in footwear production, especially after the tariff war, and to occupy the space ceded by China, the country and the state need big ticket investors from Taiwan, China and Vietnam, who at present are industry leaders in technology, innovation, product development and training,' an officer said. 'We had a wonderful interactive meeting with a leading company making footwear for leading brands with its nearly 40 supply chain partners,' said Alok Kumar. Pandian made a detailed presentation about the state government's upcoming footwear policy which is being given a final shape now. He said the footwear industry has a high potential for growth in the coming years. Kumar further said the delegation visited Jinjiang International Shoes and Textile City in the Fujiang Province of China, an integrated industrial park spread over 1532 acres having an output of US $100 billion for footwear. If textile production is added to the same, the total employment provided comes to nearly 150,000 persons. The textile production will bring the total output to US $800 bn. The industrial park encompasses research and development, design, testing, manufacturing and trade of shoes and textile, raw materials and accessories. The Industrial Park has a College of Technology for footwear, footwear material, textile, textile material and designing, primarily working with close industry linkages. The courses are designed in consultation with industry. The delegation also visited Guangzhou Shoe and Leather Fair that showcased the latest technological innovation, designing, fabrics, mould-making and shoe fittings. Those who met the U.P. delegation raised the issue of visa for visiting India. They said the issue should be worked out soon if the investors finally make up their mind to invest in India. A senior officer aware of the development said India may consider granting visas to Chinese investors interested to set up manufacturing facilities, initially for the short-term and, thereafter, by the automatic route for six months, as is being done for the tele-communication industry.
Fibre2Fashion
22-04-2025
- Business
- Fibre2Fashion
India's FY25 leather products, non-leather footwear exports up 25% YoY
India's export of leather products and non-leather footwear rose by about 25 per cent year on year (YoY) to $5.7 billion in fiscal 2024-25 (FY25) and the shipments are likely to cross the $6.5 billion mark this fiscal, according to the Council for Leather Exports (CLE). Demands in both developed and developing countries are healthy, order books are good for the coming months and huge demand is coming from the United States and the United Kingdom, CLE said. India's export of leather products and non-leather footwear rose by about 25 per cent YoY to $5.7 billion in FY25 and the shipments are likely to cross the $6.5 billion mark this fiscal, according to the Council for Leather Exports. The sector can reach a total turnover of about $39 billion by 2030, which includes domestic production of $25 billion and export turnover of $13.7 billion. "In 2024-25, we have exceeded the exports target by $1 billion set up by the department of commerce and going by this trend, our exports will cross $6.5 billion in 2025-26," CLE executive director R Selvam said. He said that the sector is recording growth despite global uncertainties. CLE has suggested 'zero-for-zero' duty to the government in the proposed bilateral trade agreement with the United States, he was cited as saying by a news agency. The sector can reach a total turnover of about $39 billion by 2030, which includes domestic production of $25 billion and export turnover of $13.7 billion. Several Chinese investors are keen to join hands with Indian footwear players to set up manufacturing units in India, CLE added. Fibre2Fashion News Desk (DS)
Time of India
21-04-2025
- Business
- Time of India
Leather, footwear exports up 25 pc to USD 5.7 bn in 2024-25; may cross USD 6.5 bn in FY26
The country's leather, non-leather footwear and products' exports rose by about 25 per cent year-on-year to USD 5.7 billion in 2024-25 and the shipments are likely to cross the USD 6.5 billion mark this fiscal, exporters' body CLE said on Monday. The Council for Leather Exports (CLE) said that demands in both developed and developing countries are "healthy". "In 2024-25, we have exceeded the exports target by USD 1 billion set up by the department of commerce and going by this trend, our exports will cross USD 6.5 billion in 2025-26," CLE Executive Director R Selvam said. He said that the sector is recording growth despite global uncertainties. Sharing similar views, CLE Chairman Rajendra Kumar Jalan said that the exports are doing good in both the US and the UK, the key export destinations for India. Due to the 10 per cent tariff hike, all the exporters are giving discounts to buyers, but there were no order cancellations, Jalan said. "From April 14-15, the situation is normal. We have suggested 'zero-for-zero' duty to the government in the proposed bilateral trade agreement with the US," he added. Order books are good for the coming months and huge demand is coming from the US and the UK, he said. He informed that the industry is labour intensive, providing employment to about 42 lakh people. The sector has a total turnover of about USD 19 billion, which includes exports of USD 5 billion. The sector has the potential to reach a total turnover of about USD 39 billion by 2030, which includes domestic production of USD 25 billion and export turnover of USD 13.7 billion, according to the industry. The industry also stated that several Chinese investors are keen to join hands with Indian footwear players to set up manufacturing units in India.
Business Mayor
21-04-2025
- Business
- Business Mayor
Leather, footwear exports up 25 pc to USD 5.7 bn in 2024-25; may cross USD 6.5 bn in FY26
The country's leather, non-leather footwear and products' exports rose by about 25 per cent year-on-year to USD 5.7 billion in 2024-25 and the shipments are likely to cross the USD 6.5 billion mark this fiscal, exporters' body CLE said on Monday. The Council for Leather Exports (CLE) said that demands in both developed and developing countries are 'healthy'. 'In 2024-25, we have exceeded the exports target by USD 1 billion set up by the department of commerce and going by this trend, our exports will cross USD 6.5 billion in 2025-26,' CLE Executive Director R Selvam said. He said that the sector is recording growth despite global uncertainties. Sharing similar views, CLE Chairman Rajendra Kumar Jalan said that the exports are doing good in both the US and the UK, the key export destinations for India. Due to the 10 per cent tariff hike, all the exporters are giving discounts to buyers, but there were no order cancellations, Jalan said. 'From April 14-15, the situation is normal. We have suggested 'zero-for-zero' duty to the government in the proposed bilateral trade agreement with the US,' he added. Order books are good for the coming months and huge demand is coming from the US and the UK, he said. He informed that the industry is labour intensive, providing employment to about 42 lakh people. The sector has a total turnover of about USD 19 billion, which includes exports of USD 5 billion. Read More The Bear House raises Rs 500 Cr in Series A funding The sector has the potential to reach a total turnover of about USD 39 billion by 2030, which includes domestic production of USD 25 billion and export turnover of USD 13.7 billion, according to the industry. The industry also stated that several Chinese investors are keen to join hands with Indian footwear players to set up manufacturing units in India. READ SOURCE
Hans India
21-04-2025
- Business
- Hans India
India's leather, footwear exports jump 25 pc to $5.7 billion in FY25
New Delhi: India's leather and non-leather footwear exports have seen a significant rise of nearly 25 per cent in the 2024-25 financial year (FY25), reaching $5.7 billion, a new report said on Monday. The industry is expected to surpass the $6.5 billion mark in the current fiscal year (FY26), according to the Council for Leather Exports (CLE). The CLE, which represents footwear exporters, mentioned that demand from both developed and developing countries remains strong, contributing to the impressive growth. R Selvam, the Executive Director of CLE, shared that India exceeded its export target by $1 billion for 2024-25, a goal set by the Department of Commerce. "In 2024-25, we have exceeded the exports target by $1 billion set up by the department of commerce and going by this trend, our exports will cross $6.5 billion dollar in 2025-26," Selvam mentioned. Rajendra Kumar Jalan, the Chairman of CLE, also highlighted that exports are performing well in key markets such as the United States and the United Kingdom. Despite a 10 per cent tariff hike, exporters have been offering discounts to maintain their business relationships, and there have been no order cancellations. Jalan also noted that the situation has returned to normal by mid-April, and suggested a 'zero-for-zero' duty proposal to the Indian government in the ongoing bilateral trade discussions with the US. "From April 14-15, the situation is normal. We have suggested 'zero-for-zero' duty to the government in the proposed bilateral trade agreement with the US," he stated. The footwear industry is labour-intensive, providing employment to approximately 42 lakh people. With an overall turnover of 19 billion dollar, the sector includes $5 billion in exports. The industry is optimistic about its future and projects a total turnover of $39 billion by 2030, with $25 billion in domestic production and $13.7 billion in exports, the report said. Additionally, there is growing interest from Chinese investors looking to collaborate with Indian footwear manufacturers to set up production units in India, further boosting the sector's potential for growth, the report added.
