Finance Minister Arun Jaitley has said the leather and footwear industry is one of the foremost growing sector in the Indian economy and it has the capacity to create ample employment opportunities. Inaugurating the International Leather and Footwear fair in New Delhi today, Mr Jaitley stressed upon the need to encourage the industry and said the government will extend all its support to promote it. <br/><br/>Mr Jaitley said the footwear industry will play a crucial role in the enhancement of the future growth rate of the manufacturing sector. He also said the quality and cost competitiveness are the key which help the industry to grow exponentially.<br/><br/>Mr Jaitley also mentioned that India has been doing well in the service sector and even the agriculture situation is under control this year. The annual turnover in the leather and footwear industry is about 12.5 billion dollars. In the this budget the government had reduced excise duty to 6 percent from 12 percent.