The leather industry in Panapakkam, Tamil Nadu, benefits from several government policies aimed at fostering growth and development:
1. Tamil Nadu Footwear and Leather Products Policy 2022:
- Investment and Employment Targets: The policy aims to attract ₹20,000 crore investments and create employment opportunities for 2 lakh individuals by 2025.
- Incentives: To promote innovation and competitiveness, the company offers a special package for manufacturing footwear and leather products, including incentives for design studios.
2. Indian Footwear and Leather Development Programme (IFLDP):
- Infrastructure Development: Focuses on upgrading infrastructure and technology in the leather sector to enhance productivity and quality.
- Skill Development: Provides training programs to develop a skilled workforce, crucial for the industry’s growth.
3. Foreign Trade Policy Incentives:
- Export Promotion: Implement schemes like the Merchandise Exports from India Scheme (MEIS) to encourage exports of leather products.
- Duty Exemptions: Offers duty-free imports of specific inputs for leather goods manufacturing, reducing production costs.
4. Industrial Licensing Policies:
- Liberalization: The leather sector’s de-reservation from the Small Scale Industry (SSI) list allows for more significant investments and the adoption of advanced technologies, enhancing its competitiveness.
These policies collectively create a supportive environment for the leather industry in Panapakkam, promoting investment, enhancing infrastructure, and facilitating access to global markets.
