The Mega Leather, Footwear, and Accessories Cluster (MLFAC) Industrial Park in Panapakkam, Tamil Nadu, employs several strategies to attract foreign investment:
1. Strategic Location:
- Proximity to Major Hubs: Situated approximately 90 kilometers from Chennai, the park offers easy access to major ports and airports, facilitating efficient export operations.
- Connectivity: Located along National Highway 48 (NH-48), it ensures seamless transportation to cities like Chennai, Vellore, and Bangalore, enhancing logistical efficiency.
2. Government Incentives:
- Tax Exemptions and Subsidies: The Tamil Nadu government provides tax exemptions and financial subsidies to leather processing and manufacturing industries, reducing operational costs for foreign investors.
- Special Incentives for Industrial Parks: Mega and ultra-mega industrial park developers may receive capital subsidies and other benefits, encouraging investment in large-scale projects.
3. State-of-the-Art Infrastructure:
- Modern Facilities: The park has well-laid roads, a reliable power supply, water resources, and waste management systems, providing a conducive environment for manufacturing operations.
- Support Services: The availability of ancillary services such as logistics, packaging, and transportation further enhances business operational efficiency.
4. Skilled Labor Availability:
- Access to Skilled Workforce: Proximity to existing leather clusters in Ambur, Vaniyambadi, and Vellore provides access to a skilled labor force experienced in leather manufacturing.
5. Environmental Compliance:
- Sustainable Practices: The park encourages industries to adopt sustainable practices, ensuring compliance with environmental regulations. This is attractive to foreign investors who prioritize corporate social responsibility.
By integrating these elements, the MLFAC Industrial Park creates an attractive proposition for foreign investors seeking opportunities in the leather and footwear sectors.
