Nov 05 2023, 15:43
The government announced in June that large and medium-scale
footwear manufacturers and all importers would have to abide by the quality standards for 24 footwear and related products from July 1.
Customer safety and product quality in footware industry:
The rules include rubber gum boots, PVC sandals, rubber hawai chappals, slippers, moulded plastic footwear, and footwear used for municipal scavenging work.
Experts say with these standards, there won't be much variety in the market. For instance, customers now have fashion chappals, office chappals, beach chappals and other such varieties under one product category.The process is likely to raise the cost a little even for general-use chappals.
The government has demonstrated an intention to ensure customer safety and product quality, says Kanishk Maheshwari, co-founder and board member at Primus Partners, a management consultancy. The quality requirements used to cover 3 footwear products in 2022 and now covers 24. "Quality standards ensure products fulfil specific material, craftsmanship and performance criteria. The goal is to boost domestic industry and minimise reliance on China, Vietnam, Indonesia, and Bangladesh for footwear products," adds Maheshwari.
India is the second-largest producer, after China, and the ninth-largest exporter of footwear: it accounts for 13% of global production and 2.2% of exports. The Global Trade Research Initiative (GTRI), a think tank, estimates that about 5% of the Indian market's demand for footwear is met through imports; and 80% this comes from China, Vietnam, Indonesia, and Bangladesh. "China is the largest supplier, with a 38.2% share in India's imports," it says.
India's global imports of footwear in FY2023 were $920.3 million.
India exported $1.49 billion of footwear in FY21 and $2.05 billion in FY22. It will stop the
dumping of cheap goods from China, he says, and give a boost to domestic
producers.
source: et
Nov 30 2024, 14:56
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