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Government Gives Nod to Rs. 2,600 cr Package for Leather Sector
December 18, 2017
A package of worth Rs. 2,600 crores has been approved by the union cabinet for the footwear and leather industry in India and is claimed to create more than 3 lakh jobs in the next 3 years.
According to an ICRA report, factors like appreciation of rupee against other major currencies, plummeting value of the British Pound (GBP), etc. had an adverse effect on the footwear exporters across the country in October.
The Department of Industrial Policy and Promotion (DIPP) was earlier seeking a package of Rs. 4,000 crores to support the footwear and leather industry.
