New Delhi, Mar 5 (KNN) Prime Minister Narendra Modi has articulated a bold vision for India’s leather and footwear sector, positioning the nation as a potential global champion through strategic innovation and comprehensive industrial development.
Speaking at a post-budget webinar on Regulatory, Investment, and Ease of Doing Business Reforms, Modi emphasised the critical importance of research and development, value addition, and strategic market penetration in transforming the sector’s global competitiveness.
The Prime Minister outlined a forward-looking approach that combines traditional craftsmanship with modern technological capabilities.
He challenged industry stakeholders to proactively identify emerging global product demands where India can manufacture competitively, advocating for a targeted export strategy that aligns with international market requirements.
Addressing the broader economic landscape, Modi highlighted the strategic significance of developing resilient supply chains.
He stressed that global economic stability is fundamentally linked to reliable and uninterrupted product supply, positioning India as a potentially crucial player in meeting these international requirements.
The leather and footwear sector represents a significant opportunity for national economic growth, particularly in terms of employment generation.
Modi underscored the sector’s potential as a labor-intensive industry that can simultaneously drive technological innovation and create substantial job opportunities for the country’s workforce.
Demonstrating the government’s commitment to industrial growth, Modi pointed to the success of the Production-Linked Incentive (PLI) scheme.
The initiative has already attracted substantial investments, generating approximately Rs 1.5 lakh crore in investments, facilitating Rs 13 lakh crore in production, and contributing Rs 5 lakh crore in exports across 14 targeted sectors.
The Prime Minister’s vision extends beyond mere economic metrics. He emphasised the importance of actively identifying and seizing opportunities in the evolving global economic order, rather than remaining a passive observer.
This approach reflects a proactive strategy of positioning India as a dynamic and responsive participant in international trade.
By combining traditional manufacturing expertise with cutting-edge research and development, India stands poised to transform its leather and footwear sector into a globally competitive powerhouse.
The government’s strategic framework, coupled with industry innovation, presents a compelling pathway for substantial economic advancement and international market penetration.
(KNN Bureau)
