Khadi launches footwear range, eyes Rs 1,000 cr share in market

TIL Desk/Business/New Delhi/ Eyeing on the Rs 50,000 crore footwear market in India, Khadi Village Industries Corporation (KVIC) on Wednesday launched a range of footwear for men and women made of Khadi fabric and said that it plans to tap the Rs 1,000 crore market in the first year. The first ever KVIC footwear range was launched by MSME Minister Nitin Gadkari, Minister of State for MSME Pratap Sarangi and KVIC Chairman Vinai Saxena.

Speaking at the launch of the Khadi footwear, Gadkari said, “Global market share of footwear is worth Rs 1.45 lakh crore. And with the new range of Khadi footwear, it will generate immense demand for the Khadi footwear “ He said, “This venture of Khadi can generate business worth Rs 5,000 crore in the coming years.”

He also said that Khadi India needs to tap on the purse, wallet and women’s bag market made of Khadi fabric, which has high global demand, particularly in the European countries.  Gadkari also hailed KVIC for launching the product and said, after the US and China, India is one of the biggest shoe consumers globally. The KVIC Chairman said in India the market of footwear is worth Rs 50,000 crore. “And we plan to get the market share of at least Rs 1,000 crore in the first year,” Saxena said.