Search Result for : Leather Industry

Sheela Mamidenna  With the Central government announcing curbs on cattle slaughter on May 26, the leather exports industry seems to be bracing itself for a rapid downward spiral. Though there seems to be a lot of misinterpretation on the latest notification, till the Government comes up with a plausible explanation, the Indian leather industry and its buyers are left frazzled.  According to media reports, major international fashion houses have started enquiring from their suppliers whether they would be able to meet their commitments.  Meanwhile, the Commerce and Industries Ministry has suggested a proposal to the Finance Ministry asking for a Rs 4,000-crore package, which includes both tax and non-tax benefits similar to the one announced for the textiles sector last year. According to officials ...

The Dollar Business Bureau Finance Minister Arun Jaitley has announced that the Government plans to launch a scheme for the leather and footwear segment in order to boost growth and create of jobs in the sector. This scheme for leather and footwear segments will be similar to the prevailing scheme of textiles, implemented in June, 2017. “A special scheme for creating employment in the textiles sector has already been launched. A similar scheme will be implemented for the leather and footwear sector,” Jaitley said. Department of Industrial policy and Promotion (DIPP) would send the plans to Expenditure Finance Committee shortly, for its approval. The final approval will be given by the Union Cabinet in order to implement the scheme from April 1, 2017. In June 2016, the government approved Rs.6000 crore for the ...

Aamir H Kaki & Ahmad Shariq Khan The labour-intensive sectors are majorly affected by the demonetisation move of the government. Leather and footwear sector is among the labour-intensive sectors which is also feeling the heat of the government’s move aimed at curbing black money. Added to that, the cash withdrawal limit of Rs.50,000 a week is not seen by many as a suitable threshold that could facilitate their day-to-day operations, including the worker’s payments. Rajiv Wasan, General Secretary, Agra Footwear Manufacturers and Exporters Chambers (AFMEC) spoke to The Dollar Business on the concerns about the demonetisation and their association’s demand for increasing the cash withdrawal limit for leather products exporters as well as manufacturers. He informed that the AFMEC has sent a letter to the ...

Deepak Kumar Underscoring the need to strengthen India’s leather industry, which has not been able to achieve its potential growth over the past few years, the government on Thursday announced a Rs. 2400 crore technology mission programme to modernise the leather industry and enable a multifarious growth to the sector.Addressing the press conference on Thursday, Science and Technology Minister Dr Harsh Vardhan said,"Efforts are being further leveraged which would provide a new impetus to the leather industry to manufacture and launch value-added products. The focus is on MSME in particular which feeds the larger industry  segment."The leather sector generates $12.5 billion revenue, which is significantly lower than the sector’s potential. The Narendra Modi -led government envisages to achieve $27 billion from ...