‘Budget sops for leather to create jobs, help biz’
Times of India | 25 July 2024To enhance the competitiveness of exports in the leather sector, finance minister Nirmala Sitharaman proposed to reduce basic customs duty on real down filling from ducks or geese.
Kolkata Leather Complex (KLC) president and national vice-chairman of Council of Leather Exports, Ramesh Juneja, pointed out that big brands wanted to use imported leather for handbags and shoes. “The new duty structure will help us,” he said, adding: “The duty was introduced only during the last full Budget.” While the total leather industry in Bengal is Rs 20,000 crore, export is Rs 8,000 crore. Imran Zaki of Dolphin Leather said the Budget included key measures for leather exporters. “Notably, the Production Linked Incentive scheme is proposed to be extended to leather and footwear sectors, which is expected to enhance competitiveness and attract investments,” he said.
Nari Kalwani, regional chairman of Indo-German Chamber and a leading leather exporter, also said the duty cut would help the industry.
