India’s Tamil Nadu state has presented its Tamil Nadu Footwear and Leather Products Policy 2022 that aims to attract over $2.5 billion (?20,000 crore) by 2025. The government also signed five memoranda of understanding (MOUs) representing more than $283 million in investment.
The MOUs are with KICL SEMS, Wagon International, KICL, Walkaroo and KICL (footwear cluster) and are expected to generate 37,450 jobs.
M. K. Stalin, chief Minister of Tamil Nadu, made the announcement at the Tamil Nadu Footwear and Leather Sector Conclave 2022. Stalin also laid the foundation stone for a ?400-crore mega footwear manufacturing park at Panapakkam, Ranipet.
The new policy aims to increase the productivity of existing businesses. The Tamil Nadu footwear sector accounts for 26 percent of India’s manufacturing output and 48 percent of exports.
In addition to helping create a resilient supply chain for footwear manufacturing, the policy also will enhance the non-leather footwear and component ecosystem.
Tamil Nadu’s major hubs for leather and leather goods production are Vaniyambadi, Vellore, Tiruchirappalli, Ambur, Ranipet, Peranampattu, Dindigul, Erode and Chennai.
