Footwear To Get Costlier From August 1? Report Says Updated Standards May Increase Prices of Shoes, Sandals and Slippers
The Bureau of Indian Standards (BIS), in their release, said the new quality standards for footwear will come into effect from August 1, 2024.
Mumbai, July 29: The prices of footwear may increase in the coming month of August due to the latest updated standards, a report said. The Bureau of Indian Standards (BIS), in their release, said the new quality standards for footwear will come into effect from August 1, 2024. This update is expected to increase the cost of shoes, sandals, and slippers sold in the market.
The updated Quality Control Order (QCO) mandates that footwear manufacturers adhere to IS 6721 and IS 10702 guidelines, the NDTV report said. However, manufacturers with an annual turnover of less than INR 50 crore are exempt from this rule. Additionally, the new standards will not apply to old stock, provided sellers upload details of such stock on the BIS website. Union Budget 2024: What Becomes Cheaper and What’s Costlier?
Footwear To Get Costlier From August 1 Due to Updated Standards, Says Report
A total of 46 items will be subject to the revised BIS norms. The bureau has made this information available on its website to raise awareness. Under the new quality rules, raw materials used in footwear, such as rexine, insole, and lining, must undergo chemical property testing. The outer material will also need to pass stringent tests for tear, strength, and flexibility. According to BIS, these measures aim to make footwear stronger, more durable, and more comfortable for consumers.
While the use of better materials is expected to increase manufacturing costs, BIS has not commented on potential cost escalations or strategies to mitigate them. Vegetarian Thali Became Costlier: Home-Cooked Veg Thali’s Cost Continues To Rise As Non-Veg Thali Gets Cheaper, Says Report.
The BIS is responsible for standardisation, conformity assessment, and quality assurance of goods, articles, processes, systems, and services. Indian Standards established by BIS form the basis for product certification schemes, providing third-party assurance of quality, safety, and reliability to consumers.
(The above story first appeared on LatestLY on Jul 29, 2024 05:26 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).