Union Minister of Commerce and Industry Shri Piyush Goyal calls upon leather and footwear industry to target at least USD 15 billion in exports in next five to six years
Union Minister of Commerce and Industry Shri Piyush Goyal emphasized the potential for India's leather and footwear industry to reach USD 15 billion in exports within five to six years, advocating for ambitious targets including leveraging new Free Trade Agreements (FTAs), diversifying markets, and improving quality, design, sustainability, and scale.
Quick Revision
Prelims-testable facts
- 01The Union Minister of Commerce and Industry is Shri Piyush Goyal.
- 02The leather and footwear industry in India aims to target USD 15 billion in exports within five to six years.
- 03The potential for India's leather and footwear industry to reach USD 15 billion in exports includes leveraging new Free Trade Agreements (FTAs).
- 04India's leather and footwear industry is expected to diversify markets as part of its growth strategy.
- 05Improving quality, design, sustainability, and scale are key areas for the Indian leather and footwear industry to focus on.
- 06The Union Minister emphasized the need for ambitious targets in the leather and footwear industry.
Trap alerts
- Most people think that the USD 15 billion target is a short-term goal, but actually it's a five-to-six-year target.
- Most people think that only quality is being emphasized, but actually sustainability and scale are also key areas of focus.
Mains Practice Question
Critically examine the role of ambitious export targets in stimulating growth and competitiveness in India's leather and footwear industry.
250 words
Practice this in the exam hall →Prelims Practice MCQs
Which ministry called upon the leather and footwear industry to target at least USD 15 billion in exports?
- A.Ministry of Commerce and Industry
- B.Ministry of Textiles
- C.Ministry of Micro, Small and Medium Enterprises
- D.Ministry of Skill Development and Entrepreneurship
The Ministry of Commerce and Industry is responsible for promoting India's exports and trade agreements, making it the relevant ministry to call upon the industry.
What potential export target was emphasized by the Union Minister of Commerce and Industry?
- A.USD 10 billion
- B.USD 15 billion
- C.USD 20 billion
- D.USD 25 billion
The Minister emphasized the potential for India's leather and footwear industry to reach USD 15 billion in exports within five to six years.
What period was mentioned as a timeframe for achieving the export target of USD 15 billion?
- A.Three to four years
- B.Five to six years
- C.Seven to eight years
- D.Ten to twelve years
The Minister emphasized the potential for India's leather and footwear industry to reach USD 15 billion in exports within five to six years.
Consider the following statements regarding India's leather and footwear industry: 1. The Union Minister of Commerce and Industry is Shri Piyush Goyal. 2. India's leather and footwear industry aims to reach USD 30 billion in exports within five years. 3. The industry plans to diversify markets by targeting new countries through Free Trade Agreements (FTAs). How many of the above statements are correct?
- A.Only one
- B.Only two
- C.All three
- D.None
Statement-1 is correct because the source explicitly mentions Shri Piyush Goyal as the Union Minister of Commerce and Industry. Statement-2 is incorrect because the source states that the industry aims to reach USD 15 billion in exports within five years, not USD 30 billion. Statement-3 is correct because the source mentions leveraging new Free Trade Agreements (FTAs) as part of the industry's ambitious targets.
Consider the following two statements: Statement-I: India's leather and footwear industry can reach USD 15 billion in exports within five to six years. Statement-II: This achievement will be possible by leveraging new Free Trade Agreements (FTAs) and diversifying markets. Which one of the following is correct in respect of the above statements?
- A.Both Statement-I and Statement-II are correct and Statement-II is the correct explanation for Statement-I
- B.Both Statement-I and Statement-II are correct but Statement-II is not the correct explanation for Statement-I
- C.Statement-I is correct but Statement-II is incorrect
- D.Statement-I is incorrect but Statement-II is correct
Statement 1 is correct because the source explicitly mentions a target of USD 15 billion in exports within five to six years. Statement 2 explains why this achievement is possible, as it aligns with the source's mention of leveraging new FTAs and diversifying markets for achieving the export target.