Leather and footwear exports should hit $15 billion in 5-7 years: Goyal
Synopsis
India's leather and footwear sector currently exports $4–4.5 billion worth of goods — Commerce Minister Piyush Goyal wants that number to hit $15 billion within seven years. With the UK FTA activating on 15 July and the EU deal in its final legal phase, the policy window may be the widest it has ever been. The real question is whether the industry can diversify beyond its top-15 market concentration before the window narrows.
Key Takeaways
Commerce Minister Piyush Goyal set a $15 billion export target for India's leather and footwear sector within five to seven years .
The sector currently exports goods worth $4–4.5 billion annually — a three-fold increase is the stated goal.
77 per cent of India's leather exports go to just 15 countries , underscoring the need for market diversification.
New FTAs open access to 50 countries , including 38 developed nations ; the India-UK FTA takes effect on 15 July .
The India-EU FTA legal scrub is expected to be completed within 15–20 days .
Goyal will lead a business delegation to Brussels , Spain , and Finland on 14–15 July .
Commerce and Industry Minister Piyush Goyal on Monday, 6 July urged India's leather and footwear industry to target at least $15 billion in exports over the next five to seven years, calling it a realistic ambition for a sector that currently ships goods worth $4–4.5 billion annually. He made the remarks while addressing the Council for Leather Exports National Export Excellence Awards 2024-25 in New Delhi.
The $15 Billion Target
Goyal called for a three-fold increase in the sector's export performance, urging industry leaders to leverage new Free Trade Agreements (FTAs), diversify markets, and strengthen quality, design, branding, sustainability and scale. “If I was in your shoes, or in your leather shoes, if I may say so, I would not aspire for anything less than a 3x outcome in the next five to seven years,” he said, setting the explicit export goal at $15 billion.
FTAs Opening Doors to 50 Markets
The minister highlighted that India's recently concluded FTAs were unlocking access to 38 developed countries, creating significant new opportunities for the leather and footwear sector. He noted that the India-UK FTA would come into force on 15 July, and that both India and the European Union were working to complete the legal scrub of their FTA within the next 15–20 days. Goyal added that India already has FTAs with the 10 ASEAN countries, Japan, and Korea, taking the total to 50 countries whose markets are now accessible.
Diversification Imperative
Goyal flagged a structural concentration risk: 77 per cent of India's leather exports currently flow to just 15 countries. He said the time had come to spread the export base across the world, particularly into the newly opened developed-country markets. The minister also pointed to the breadth of leather applications — bags, wallets, horse saddles, jackets, clothing and apparel — as evidence that the sector's potential extended well beyond footwear.
Quality, Technology and Craftsmanship
Goyal urged the sector to identify and deploy the best testing equipment, pointing to BIS, NTA, and university laboratories near industrial clusters as resources to be better utilised. Quoting Prime Minister Narendra Modi, he said: “We can become a global champion in leather and footwear exports by leveraging research and development and our traditional craftsmanship with modern technology.” The minister also noted that India possesses highly experienced artisans, cobblers and workers alongside industry leaders capable of thinking and achieving at scale.
What's Next
Goyal said he would travel to Brussels, Spain and Finland with a delegation of businesspersons, meeting his EU counterpart on 14–15 July in Brussels. India has already begun marketing its products and services abroad through such delegations, signalling a more proactive export-promotion posture. If the EU FTA is finalised on schedule, it would represent one of the most consequential market-access wins for Indian leather exporters in years.
Point of View
Not a policy commitment — and the gap between the two is where India's export ambitions have historically stalled. The sector's 77 per cent concentration in 15 markets is a structural vulnerability that FTAs alone cannot fix; distribution infrastructure, branding investment, and compliance with destination-country quality norms matter just as much. The EU FTA, if finalised, would be transformative, but 'legal scrub in 15–20 days' has been said before. The more telling signal will be whether the government links any incentive architecture to verified export diversification outcomes, or whether the $15 billion figure remains a motivational number with no accountability mechanism attached.
NationPress
7 Jul 2026
Frequently Asked Questions
What is the $15 billion leather export target announced by Piyush Goyal?
Commerce and Industry Minister Piyush Goyal called on India's leather and footwear industry to grow its exports from the current $4–4.5 billion to at least $15 billion within five to seven years, representing a three-fold increase. He made the statement at the Council for Leather Exports National Export Excellence Awards 2024-25 in New Delhi on 6 July.
Which FTAs are expected to benefit India's leather and footwear sector?
India's FTAs now cover 50 countries, including 38 developed nations. The India-UK FTA comes into force on 15 July, and the India-EU FTA is in its final legal-scrub phase, expected to be completed within 15–20 days.
Why is market diversification important for India's leather exports?
Currently, 77 per cent of India's leather exports are concentrated in just 15 countries, creating significant vulnerability to demand shocks in those markets. Goyal urged the sector to spread its export base across the newly accessible 50 FTA partner countries.
What products does India's leather sector export beyond footwear?
India's leather sector exports a wide range of goods including bags, wallets, horse saddles, jackets, clothing and apparel, in addition to footwear. Goyal noted that leather is used in almost every aspect of life, giving the sector unusually broad application potential.
What steps is the government taking to support the leather export push?
The government is facilitating access to quality testing through BIS, NTA, and university laboratories near industrial clusters. Goyal is also leading business delegations to Brussels, Spain, and Finland on 14–15 July to actively market Indian leather goods and services abroad.
