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Commerce and Industry Minister Piyush Goyal has said that the government is considering a new scheme to support domestic manufacturing of machinery and accessories used in the leather industry. He also expressed hope that the country's exports during the current fiscal (FY23) would register a high growth rate in both goods and services compared to 2021-22. In 2021-22, exports of goods and services touched an all-time high of $676 billion.

On the council's demand for the reinstatement of basic customs duty exemption on the wet blue crust and finished leather, Goyal assured them to take up the matter with the concerned ministry. According to Council for Leather Exports (CLE), such leathers are mainly imported by domestic exporters for making value-added products, such as handbags and garments, and duty-free import of finished leather helps manufacturers to become more competitive. Goyal suggested the industry to utilise the benefits of the Manufacture and Other Operations in Customs Warehouse (MOOWR) scheme of the finance ministry that allows the import of any goods duty-free.

The minister said regions like Europe are in a stressful situation and most of the developed world is facing high inflation. He suggested the sector to explore new export destinations and focus on innovati