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India Budget: FM may announce PLI for footwear & leather industry

Finance minister Nirmala Sitharaman has received multiple requests to bring PLI schemes for more sectors. The minister is likely to announce similar versions for half a dozen industries including footwear and leather. However, the government will examine the potential for local value addition and import substitution to boost investments and create jobs. 

The leather industry, led by the Council for Leather Exports, has sought an extension of the PLI scheme, pleading that India can become a hub for the exports of leather and non-leather footwear. Tamil Nadu is also pursuing leather and footwear PLI scheme as it has a ** per cent share in India’s footwear and leather products output and ** per cent share in India’s total leather exports.