Taiwan giants like Shoetown, Feng Tay, Pou Chen, and Hong Fu are setting up huge non-leather shoe factories in Tamil Nadu. Made in India footwear will take over world, say industry leaders.
The recent move by Centre, which requires ISI marks on all footwear priced above Rs. 150, has sparked concerns among small businesses in the cottage footwear manufacturing sector.
In Agra, shoemakers fear the change and disruption in the old ways of doing things. Industry associations fear fallouts, while workers are worried that they’ll be laid off.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
Among 19 Indian firms sanctioned by US Treasury Dept was Lokesh Machines Ltd accused of coordinating with 'Russian defence procurement agent to import Italy-origin CNC machines'.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
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