Leather, Footwear In­dus­try gets ` 2,600 Crore Pack­age

Shoes & Accessories - - The Month That Was -

The gov­ern­ment has ap­proved a ` 2,600 crore spe­cial pack­age for em­ploy­ment gen­er­a­tion in the leather and footwear sec­tor, which has the po­ten­tial to gen­er­ate 3.24 lakh jobs in three years and as­sist in the for­mal­i­sa­tion of 2 lakh jobs.

The de­ci­sion was taken at a meet­ing of the union cab­i­net chaired by Prime Min­is­ter Naren­dra Modi in New Delhi. The pack­age in­volves im­ple­men­ta­tion of cen­tral scheme ‘In­dian Footwear, Leather & Ac­ces­sories De­vel­op­ment Pro­gramme’, with an expenditure of ` 2,600 crore 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 en­hanced tax in­cen­tive would at­tract large-scale in­vest­ments in the sec­tor and re­forms in labour laws in view of sea­sonal na­ture of the sec­tor will sup­port economies of scale, it said. The pack­age has the po­ten­tial to gen­er­ate 3.24 lakh new jobs in three years and as­sist in the for­mal­i­sa­tion of 2 lakh jobs as cu­mu­la­tive im­pact in footwear, leather and ac­ces­sories sec­tor.

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