CLE chairman celebrates fresh government investmen - footwearbiz: Lead

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CLE chairman celebrates fresh government investment

02/02/2018
The chairman of the Council for Leather Exports (CLE), Mukhtarul Amin, has said the $400 million investment package that the government recently announced is the biggest ever for the Indian leather industry.

Ahead of the 2018 Indian International Leather Fair (February 1-3), India’s Minister of Commerce & Industry, Suresh Prabhu, guest of honour at the inauguration ceremony, revealed a new special package for the country’s leather and footwear industry.

The initiative, which is being called the Indian Footwear, Leather and Accessories Development Programme 2017-2020, will count on government investment of Rs 2,600 crore (more than $400 million). Among the areas in which this money will be spent are training new skilled workers, supporting the growth of micro, small and medium enterprises (MSMEs), establishing new mega leather clusters and installing or upgrading common effluent treatment plants.

Speaking at a press conference for international media on the first day of the fair, Mr Amin explained that the industry is targeting annual export growth of 10% in the coming years following the announcement of this investment. He also expects a boost to India’s employment.

He pointed out that this package will be the first time that significant investment has been made in brand promotion. He expects this to help Indian brands to expand beyond the domestic market into the international arena and said he was excited to see this materialise.

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