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Leather & footwear industry expecting incentive package
Jul '17
India’s leather and footwear industry is anticipating an incentive package, similar to the one offered to the garment industry last year. Leather exporters are particularly eyeing the duty drawback scheme where duty paid by them, on the products they import, is refunded. The incentive package is mooted by department of industrial policy and promotion (DIPP).

Currently, the leather and footwear sector provides employment to about 30 lakh people. With a view to increase jobs as part of the reform agenda, the package may include relaxations in labour laws as well as provisions for imparting skills to the rising workforce, Prateek Kukreja, a research scholar at the Centre for the Study of Regional Development, JNU, New Delhi, writes in an article for Fibre2Fashion.

The incentive scheme will come in the wake of what has been one of the major tax reforms (GST) that the country has seen in the recent past. Therefore, it becomes all the more important to make sure that the provisions of the scheme complement the new tax regime and provides the manufacturer with incentives to increase production, contributing towards increased exports and job creation.

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Fibre2Fashion News Desk – India

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July 2018

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