Leather Sector

Focus product scheme to boost exports by Rs 1.1 trn for leather sector: CLE

The Budget announcement for rolling out of a focused product scheme for footwear and leather sectors will help enhance productivity, competitiveness and exports by over Rs 1.1 lakh crore, CLE said on Sunday. The Council for Leather Exports (CLE) said the scheme will support design capacity, component manufacturing, and machinery required for the production of non-leather quality footwear. "The scheme will support thrust areas like design capacity, component manufacturing, and machinery required for production of footwear and products," CLE Chairman Rajendra Kumar Jalan said, adding that the scheme is expected to facilitate employment for 22 lakh people, generate turnover of Rs Rs 4 lakh crore and exports of over Rs 1.1 lakh crore. He added that it will also enhance production and productivity by attracting investments and will strengthen the component and machinery ecosystem of the sector. CLE Executive Director R Selvam said the proposal to remove 20 per cent export duty on crust

Budget 2025: Leather, footwear stocks zoom on FM Sitharaman's new policy

Budget 2025: Relaxo Footwear share price surged 8.8 per cent on the BSE. Liberty Shoes rallied 7.4 per cent, Campus Activewear 6.12 per cent, and Bata India share price 2.8 per cent

PLI scheme expansion for handicrafts, leather to create more job: Deloitte

The government in its coming Budget must extend fiscal benefits under the PLI (production linked incentive) scheme to sectors such as handicrafts and leather that can create more jobs, Deloitte said on Sunday. It also suggested that the existing PLI schemes must continue in sectors that have seen success, such as electronics, auto and semiconductors. The government in 2021 announced PLI schemes for 14 sectors, including telecommunications, white goods, textiles, manufacturing of medical devices, automobiles, speciality steel, food products, high-efficiency solar PV modules, advanced chemistry cell battery, drones, and pharma, with an outlay of Rs 1.97 lakh crore. Deloitte further suggested that to improve global liquidity (once the Western central banks start easing their monetary policies), the government can raise the ceiling for investment size and remove location restrictions to attract more foreign investment. "Multi-brand retail and e-commerce are some sectors that may benefi

Luxury leather brand Da Milano seeks to sell stake at Rs 1,500 cr valuation

Da Milano was established in 1989 by Surinder Malik. Set up as a leather product exporting firm, the brand has expanded to sell leather accessories through 79 exclusive stores

Tata International to nearly double sustainable leather production in 4 yrs

Tata International, the global trading and distribution arm of the Tata Group, on Monday said it plans to increase the production of sustainable leather to 50 pc in the next four years, from 27 per cent at present. The company launched Phoenix Leather, an eco-friendly product under its Earthcare Leather range, Tata International said in a statement. This has been developed through a patented collaboration with the Central Leather Research Institute (CLRI), which marks a significant advancement in sustainable leather technology, it added. "Tata International's Earthcare Leather range aims to lead the sustainable development of the leather industry. Despite lower demand post-Covid, we are now witnessing promising recovery with increased interest from key markets such as the USA, China, and Europe," said P Rajasekaran, Business Head - Finished Leather Business at Tata International. Tata International is one of the largest exporters of leather and leather products in India. "We are .

Vegan leather from sugarcane: PETA sees potential in India's agri-waste

Animal rights group PETA India on Wednesday said India's position as a major global sugarcane producer offers significant opportunities for expanding the use of sugarcane-based vegan leather. The organisation highlighted that India's vast sugarcane production could be leveraged to effectively utilise sugarcane waste through technology developed by PA Footwear P Ltd, a company specialising in vegan leather alternatives. India, the world's second-largest sugar producer after Brazil, grows sugarcane in 55-60 million hectares area. "India is one of the largest producers of sugarcane globally, so PA Footwear P Ltd's technology presents a significant opportunity to utilise sugarcane waste effectively," PETA India said in a statement. PA Footwear P Ltd, in partnership with the National Institute for Interdisciplinary Science and Technology, has developed Vegan Virya, a leather alternative made primarily from sugarcane. The material has received "PETA-Approved Vegan" certification from PET

'Govt to increase exports of 10-11 sectors from $160 bn to $500 bn by 2030'

The government is working on boosting domestic manufacturing and increasing exports to USD 500 billion by 2030 from 10-11 sectors, including automobiles, pharma, textiles, medical devices and chemicals, a senior official said on Thursday. These issues were discussed during a meeting called by the Commerce and Industry Ministry on Thursday. The meeting was convened by the Department of Promotion of Industry and Internal Trade (DPIIT) in collaboration with Invest India and SCALE (Steering Committee for Advancing Local Value-Add and Exports) Committee to unveil outcomes and recommendations made during the Chintan Shivir for Manufacturing, held on October 12 at Bharat Mandapam here. The 11 sectors are auto components, automobiles (including EVs), capital goods, chemicals, drones, medical devices, aerospace and defence, leather and footwear, textiles, and space. "We are looking at investments in these sectors. We will drill down to each of the areas to see how to promote manufacturing

Commerce ministry may import monitoring system for leather products

The commerce ministry is considering introducing an import monitoring system for the leather sector, under which a trader will have to provide advance information about the imports and obtain a registration number, an official said. "Talks are at an early stage on the issue at present," the official said. Normally under the system, importers are required to submit advance information in an online system for imports of items and obtain an automatic registration number by paying a certain amount of registration fee. Earlier, the government introduced similar system for sectors like coal and steel. Imports of leather and leather products dipped by 26.32 per cent to USD 61.62 million. During 2022-23, these imports have recorded a growth of 25.62 per cent to USD 1.02 billion as against USD 819 million in 2021-22. The ministry is also considering extending some initiatives such as the production-linked incentive scheme to the leather and footwear sector to further promote the growth of

Govt prepares road map, identifies 8 sectors to ease compliance burden

Single-window clearance by mid-April

Leather industry seeks policy, infra makeover to reduce imports from China

According to commerce ministry data, India imported leather and leather products worth $1.01 billion in FY20

Footwear industry says it lost export orders worth $1 bn due to Covid-19

Says it may require support from government in the form of reduction in GST, especially for footwear priced above Rs 1,000

Bengal allots 70 acres to 187 new tanneries in Calcutta Leather Complex

Close to 60 per cent of the new allotment has been for tanneries based in Uttar Pradesh

Leather, footwear stocks in focus: Relaxo, Superhouse up over 5%

Superhouse, Relaxo Footwear, Mirza International, Mayur Leather, Liberty Shoes, Bata India, and Khadim India were up in the range of 2% to 9% on the BSE

Mega package of Rs 2,600 cr for leather sector may be announced soon

Proposal may be sent to Cabinet by commerce ministry within two weeks