Ministry of Commerce explores PLI scheme for footwear sector

Following requests from the Indian footwear industry, the central government is looking into promoting growth in the sector with a Production Linked Incentive scheme. The government is keen to incentivise domestic manufacturing, accoding to its budget papers. 

The government aims to launch the PLI Scheme for the financial years 2024 to 2032, the Press Trust of India reported. The benefites which can be availed by footwear producers under the Indian Footwear and Leather Development Programme would be adjusted while working out the incentives for the same unit under its PLI Scheme. 
 
“The scheme is not yet approved by the cabinet,” announced the government, India Retailing reported. “Hence, the token provision has only been made for 2024-25.” The Union Government has suggested an outlay totalling Rs 2,600 crore for a PLI Scheme which would apply to the footwear and leather industry. 

Along with the footwear industry, the government also plans to introduce the PLI Scheme for the toy industry. “The PLI scheme for toys is recommended with an outlay of Rs 3,489 crore with a scheme period from 2024-25 to 2031-32,” read the government’s paper on expenditure. This scheme has also yet to be approved by the cabinet.