CURRENT AFFAIRS

Detailed explanation-1: -The scheme has been launched in 13 sectors identified by the government with a total outlay of around Rs 2 lakh crore.

Detailed explanation-2: -Revenue in the Footwear market amounts to US$23.73bn in 2022. The market is expected to grow annually by 6.77% (CAGR 2022-2027). The market’s largest segment is the segment Leather Footwear with a market volume of US$16.62bn in 2022.

Detailed explanation-3: -The combination of leather, footwear, and accessories market in India contributes nearly 2% of the country’s GDP and is one of the major job producers too. The country’s footwear industry is projected to rise 8 times by 2030 as per a research report on the footwear market.

Detailed explanation-4: -What is the Leather sector overview of India? India is the second largest producer and consumer of footwear in the world. The Leather industry in India accounts for around 13% of the world’s leather production of hides/skins and handles a robust annual production of about 3 bn sq. ft.

Detailed explanation-5: -The revenue in the footwear market in India amounts to 23.73 billion dollar in 2022. The market is expected to grow annually by 6.77% CAGR 2022-2027. The market’s largest segment is the segment leather footwear with a market volume of 16.62 billion dollar in 2022.