Piyush Goyal Announces QCOs to Protect Indian Footwear Industry and Boost Exports

GG News Bureau
New Delhi, 9th August. Union Minister of Commerce & Industry, Piyush Goyal, highlighted the role of Quality Control Orders (QCOs) in safeguarding the Indian footwear industry from substandard imports and ensuring fair competition.

Speaking at the 8th India International Footwear Fair, Goyal announced that the new QCOs, effective August 1, 2024, will enhance the quality of domestic products and support the industry’s growth.

To ease the transition, retailers will have a two-year period to clear existing stock, and fashion footwear manufacturers producing up to 72,000 pairs will be exempt from QCOs. Goyal also emphasized the sector’s potential to create up to 1 crore jobs, a significant increase from the current 40 lakh.

With India aiming to become the global leader in footwear production, Goyal set an ambitious target of $50 billion in exports by 2030. He encouraged the industry to utilize Free Trade Agreements (FTAs) with ASEAN and European countries to strengthen their global presence.