Kolkata's leather industry lauds the budget’s concessions for the sector

Kolkata's leather industry has welcomed the Union Budget 2024-25, believing that the measures announced will boost employment and exports from Bengal. Finance Minister Nirmala Sitharaman’s budgetary announcement to reduce basic customs duty on real down filling material from ducks or geese is seen by local leather manufacturers as a significant step to enhance the competitiveness of leather exports.

Ramesh Juneja, President of the Kolkata Leather Complex (KLC) and national vice-chairman of the Council for Leather Exports, highlighted that the new duty structure will benefit the sector, particularly in meeting the demand from big brands for imported leather for handbags and shoes.

Imran Zaki of Dolphin Leather stated that the extension of the Production Linked Incentive (PLI) scheme to the leather and footwear sectors will attract investments and further strengthen the industry's competitiveness. Nari Kalwani, regional chairman of the Indo-German Chamber and a leading leather exporter, echoed these sentiments, stating that the duty cut will positively impact the industry.

West Bengal's leather industry is a significant contributor to the state's economy, with an estimated turnover of Rs. 20,000 crore and exports worth Rs. 8,000 crore.