India’s new programme for leather and footwear

India’s new programme for leather and footwear

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The government approved a special package of roughly 404.7 million US dollars (Rs 2 600 crore) for employment generation in the leather and footwear sector, which has the potential to generate 320 000 jobs in a period of three years

The decision was taken at a meeting of the Union Cabinet chaired by Prime Minister Narendra Modi. The package involves implementation of central scheme Indian Footwear, Leather & Accessories Development Programme, with an expenditure of roughly 404.7 million US dollars during 2017-18 to 2019-20.

“The scheme would lead to development of infrastructure for the leather sector; address environmental concerns specific to the leather sector and facilitate additional investments, job creation and production,” the government said.

Moreover, the authorities are expsecting enhanced tax incentive to attract large-scale investments in the sector. Further reforms in labour laws in view of seasonal nature of the sector are also on the pipeline.

*1 crore (or 100 lakhs) is equivalent to 10 million ruppes

*A rate of 64.23 Indian rupees to 1 US dollar was used

Source: www.worldfootwear.com