Commerce and Industry Minister Piyush Goyal has said that India’s leather and footwear sector is poised for a major expansion in exports through new Free Trade Agreements (FTAs). Addressing industry representatives, he noted that the sector currently exports goods worth around USD 4–4.5 billion annually, but has the potential to reach USD 15 billion within the next five to six years.
Goyal highlighted that India has signed or is negotiating FTAs with 38 developed countries, including the UK, EU, UAE, and Oman, which will open new markets for Indian leather products. The UK FTA will come into effect on July 15, 2026, while the EU agreement is expected by early 2027. He stressed that these agreements will reduce dependence on a handful of countries, as 77% of current exports are concentrated in just 15 markets.
The minister urged exporters to diversify beyond footwear into products such as bags, wallets, saddles, jackets, apparel, upholstery, and wall coverings. He also emphasized the importance of design, packaging, sustainability, and advanced testing infrastructure to strengthen “Brand India” in global markets.
India’s leather sector currently employs about 40 lakh people, and Goyal projected that this number could rise to 1 crore with the expansion of exports. He called on the industry to adopt eco-friendly practices, including recycling waste and effluents and increasing renewable energy usage, to meet international compliance standards.
With FTAs unlocking access to over 50 countries, India’s leather industry is entering a transformational phase. If exporters embrace diversification and sustainability, the sector could become a USD 15 billion powerhouse and a major generator of employment in the coming years.
