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The government may extend the incentive scheme for the leather footwear industry to 2025-26

The government may extend the incentive scheme for the leather footwear industry to 2025-26
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The government may extend the incentive scheme for the leather footwear industry to 2025-26

The government may extend the incentive scheme for the leather footwear industry to 2025-26

New Delhi, Sep 5 (PTI) The government may expand the Indian Footwear, Leather and Accessories Development Program (IFLADP) by 2025-26 at a cost of Rs 1,700 crore, an incentive scheme for the leather and footwear industry. Giving this information, an official said that it will further boost production, exports and job creation.

The Ministry of Commerce and Industry has submitted a proposal for implementation of IFLADP at a cost of Rs 1,700 crore, the official said. This amount will be spent from 2021-22 to 2025-26. The proposal could soon get the approval of the Union Cabinet.

The program has six major components: Sustainable Technology and Environmental Conservation (Rs. 500 crore proposed cost), Integrated Development of Leather Sector (Rs. 500 crore proposed cost), Establishment of Institutional Facilities (Rs. 200 crore), Large Leather Footwear and Accessories Cluster Development ( 300 crore), promotion of Indian brands in the leather and footwear sector (Rs. 100 crore) and design studio development (Rs. 100 crore).

The Expenditure Finance Committee has already approved the ministry’s proposal, the official said.

Earlier, IFLADP was sanctioned an expenditure of Rs 2,600 crore for the three financial years 2017-18 to 2019-20. The objective of the scheme is to develop infrastructure and encourage additional investment, so as to increase the production and employment of the region.

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