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Footwear Manufacturers
South Korea headquartered Hwaseung Footwear Group, with an investment of Rs 1,720 crore, has decided to set up its non-leather footwear manufacturing unit in Tamil Nadu, the first such facility for the group in the country, Minister for Industries TRB Rajaa said. The factory to come up in Tuticorin is expected to generate 20,000 direct jobs in the region, he said. "Our efforts to ensure the grounding of MoUs we signed at TN Rising Tuticorin are in full swing. Chief Minister M K Stalin today met senior executives of South Korea's Hwaseung Footwear Group at the Secretariat," Rajaa said. "Hwaseung has committed an investment of Rs 1,720 crore to establish a large-scale non-leather footwear manufacturing facility, their first production base in India," he said in a social media post late on Friday. Rajaa exuded confidence that the production plant, with the creation of 20,000 direct jobs in the region, would become one of the largest employment-generating footwear projects in Tamil ...
Companies from Taiwan and Vietnam are keen to invest in India's non-leather footwear sector, and the government support is crucial to facilitate these investments, Council for Leather Exports (CLE) Chairman RK Jalan said on Sunday. Jalan said these Taiwanese and Vietnamese firms import products like shoe soles, moulds, machinery, and fabrics from countries like China. "Vietnamese and Taiwanese firms are keen to invest in India. We need to support them so that they can import these goods smoothly into the country for their manufacturing facilities," he said. The country's exports are growing at a healthy rate, and the council is aiming for USD 7 billion worth of shipments in 2025-26, he added. The exports stood at USD 5.75 billion in 2024-25. The US was the top destination for Indian exporters with shipments worth USD 957 million (about 20 per cent share). It was followed by the UK (11 per cent) and Germany. "We are expecting about 18 per cent growth this year. Promotion of ...
Footwear major Khadim India Ltd is expecting to complete the demerger of its distribution business by March 2025 with a subsequent listing in the bourses by May, an official said on Monday The company is also exploring quick commerce partnerships with platforms like Zepto for utility products such as school shoes and EVA slippers to boost sales, he said. The Kolkata-based footwear maker had earlier announced the decision to carve out its distribution business and manufacturing activities into KSR Footwear Ltd (KFL) to improve margins and valuations. "The demerger is pending before the NCLT. An order is expected by the end of this month or March. As of now, the planned effective date of the demerger is April 1. Listing of the demerged entity (KSR) will take place within May," Khadim's chief financial officer Indrajit Chaudhuri told PTI. This strategic move is expected to unlock substantial value for its core retail business, which comprises approximately 890 stores under the Khadim
Apex body for leather and footwear exporters CLE has asked the government to formulate a national policy for the sector with a view to attract investments, boost India's shipments and create jobs. In a letter to Niti Aayog CEO BVR Subrahmanyam, Council for Leather Exports (CLE) said that though there are schemes and support measures at central and state levels, there is a need for holistic development of the entire sector through a national policy. The elements of the proposed policy, it said, can include incentives for setting up of manufacturing units, training of workers, support measures for adoption of sustainable technologies and innovative products. "This policy should cover the entire supply chain of the sector, starting from raw materials to finished products, including processing, product development, marketing, supply chain management, and backward integration," the council said. Explaining the importance of the policy, CLE Executive Director R Selvam said that the secto