In his speech, at the ceremony of the National Award for Excellence in Exports of the Council for Leather Exports, Goyal encouraged companies, entrepreneurs and those with innovative ideas to enter new markets and products.

The Minister affirmed that higher exports than last year are expected to be achieved , both in goods and services.

He said he was happy to receive reassurances from the domestic leather sector that there would be further growth compared to last year, as most of the developed world, heavy consumers of leather products, experience subdued inflation and consumer spending.

Goyal called on the leather industry to use for its growth, the free trade agreements signed by India with several countries, citing the example of the United Arab Emirates, where the sector’s exports registered a jump of 64 percent in November last, as result of the new agreements.

He explained that the Indian industry has huge untapped potential, and while the quality of the manufactured products are good, more attention to packaging and branding is required so as to get better value for the merchandises.

He also urged the leather and footwear industry to aim for significant increases in the next 25 years and to draw up a plan towards that goal, explore other territories and manufacture new products in substitution of imports.

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