New Delhi, Jan 19 (KNN) As a part of the Union budget 23-24, Finance Minister Nirmala Sitharaman is likely to announce new versions of Productivity Linked Incentive (PLI) scheme for more than half dozen of industries, including leather and footwear.

The FM has received several proposals from different industries to bring PLI schemes for more sectors.

The minister is likely to announce similar versions for 6 industries including footwear and leather.

However, the government will examine the potential for local value addition and import substitution to boost investments and create jobs.

Emphasising on India’s ability to become a hub for the exports of leather and non-leather footwear, Council for Leather Exports has urged the FM for an extension of the PLI scheme.

Tamil Nadu is also pursuing leather and footwear PLI scheme as it has a 38 per cent share in India’s footwear and leather products output and 45 per cent share in India’s total leather exports. (KNN Bureau)