Special Rs 26-bn package to boost export of leather products, footwear

Industry insiders believe the package will help increase exports by 4-5%

The leather and footwear industry is expecting that the Rs 26-billion special package announced by the governed recently, will help the stagnant sector grow by easing the pricing pressure.

However, they feel the time duration of the package is short and say around Rs 5 billion from the previous scheme is yet to be released by the government.

The package involves the implementation of the central sector scheme ‘Indian Footwear, Leather & Accessories Development Programme (IFLADP)’ with an approved expenditure of Rs 26 billion over the three financial years from 2017-18 to 2019-20.

The government has approved a