Footwear prices are on the rise.
The Bureau of Indian Standards has issued a new quality standard for all footwear sold in the market. Footwear made according to the new standards of BIS will not only be more strong and durable, but will also be more expensive. With the implementation of the new standard, shoes, sandals and slippers will become more expensive from August 1.
This standard focuses on many aspects such as the quality of shoes, materials used and safety. The BIS has clarified that action can be taken against companies that do not comply with the new rules.
Small companies have been given immediate relief from this rule. Companies with an annual turnover of less than Rs 50 crore will not have to comply with this standard at present. Also, footwear in old stock will be out of the purview of this rule, but the information of these footwear will have to be uploaded on the BIS website.
According to the new rules, companies manufacturing footwear will now have to comply with two new standards of BIS - IS 6721 and IS 10702. The new rule will lead to an increase in the price of footwear.
Because it will cost more for companies to make footwear according to the new standard. The new rules will be applicable on 46 items related to footwear from August 1. The Bureau has made the new rules available on the website for the information of the public.