The Tamil Nadu Footwear and Leather Products Policy 2022 offers a comprehensive package of incentives to leather manufacturers in Panapakkam, particularly those operating within the Mega Leather, Footwear, and Accessories Cluster (MLFAC) Industrial Park. Key incentives include:
1. Capital Subsidies:
- Special Package for FLP Manufacturing: Eligible manufacturers receive capital subsidies to offset initial investment costs, facilitating the establishment and expansion of operations.
2. Tax Incentives:
- SGST Refunds: Manufacturers are entitled to refunds on the State Goods and Services Tax, reducing the overall tax burden and enhancing profitability.
3. Infrastructure Support:
- Subsidized Land Rates: The State Industries Promotion Corporation of Tamil Nadu (SIPCOT) offers land at subsidized rates within the MLFAC Industrial Park, making it more affordable for manufacturers to set up facilities.
- Developed Industrial Plots: Provision of well-developed industrial plots with essential infrastructure, including roads, power supply, and water resources, streamlines the setup process for new units.
4. Employment Incentives:
- Training Subsidies: Financial support is available for training programs aimed at upskilling the local workforce, ensuring manufacturers have access to skilled labor.
- Special Focus on Women and Marginalized Groups: Incentives are provided for employing women, transgender persons, people with disabilities, and individuals from SC/ST communities, promoting inclusive growth.
5. Ease of Doing Business:
- Single-Window Clearance System: A streamlined approval process facilitates quicker establishment and expansion of manufacturing units, reducing bureaucratic delays.
6. Design and Innovation Support:
- Incentives for FLP Design Studios: Financial assistance is provided to set up design studios, fostering innovation and enhancing the competitiveness of products in the global market.
These incentives are designed to attract substantial investments, with the policy aiming to secure ₹20,000 crore in the leather sector by 2025 and create employment opportunities for 2 lakh individuals.
By leveraging these benefits, leather manufacturers in Panapakkam can significantly reduce operational costs, access skilled labor, and enhance their market competitiveness.
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