Finance Minister Arun Jaitley will inaugurate the India International Footwear Fair (IIFF) here on August 5.
As many as 263 companies from India and abroad are participating in the fair this year. The organisers expect business of around Rs 2,000 crore to be generated from the three-day event.
"Last year the quantum of business generated from the fair was Rs 1,200 crore. However, we expect business to the tune of Rs 2,000 crore to be generated this year," Senior Vice President of the Confederation of Indian Footwear Industry (CIFI) said at a press conference here.
India Trade Promotion Organisation (ITPO) CMD L C Goyal said he expects nearly 10,000 people to visit the IIFF 2016, much higher than the 6,000 visitors who attended last year.
"India's footwear industry has a huge potential for enhanced growth both in terms of domestic as well as exports. Events like this go a long way in realizing this potential," Goyal said.
Gupta said the footwear sales in India at present amount to Rs 35,000 crore, but may double in the next five years.
160 Indian companies and 103 overseas firms from Brazil, China, Iran and Taiwan are participating in the fair this year.
"The present demand in India is 2.3 billion pairs a year and it is estimated India will need 5 billion pairs of shoes in 2020. Apart from unveiling the export potential of India in footwear and leather industry, the event aims to project India as an ideal investment destination," ITPO said.
Besides, Union Minister for Science & Technology and Minister of Earth Sciences Dr. Harsh Vardhan will inaugurate the Delhi Book Fair on August 27.
This year, the fair aims to highlight initiatives of the government under 'Sarv Shiksha Abhiyan' for higher education and computer literacy. Besides, the Theme Pavilion will comprise of the 'Selfie Stations' which focus on the national campaigns of the Government of India.
These include Make in India, Swachh Bharat Abhiyan, Digital India, Skill India, Standup India, Smart Cities, StartUp India and Umang (Unified Mobile App for New-age Governance).
Students carrying ID cards will be permitted free entry to the book fair.
