Finance ministry will finalise the amount in the next few days and will be taken up by the Cabinet by the end of the month
"The package will be finalised in about a week's time. It will be sent for inter-ministerial consultation thereafter, and finally to the Cabinet for its approval," a senior government official told Moneycontrol.
Commerce and Industry Ministry today pressed the GST Council to keep exports out of the GST framework and levy lower taxes on labour-intensive sectors like leather, cement and plantation.
Dharavi- one of Asia's largest leather markets was hit by the demonetisation drive. Sales were down by 50 to 60 percent and shops were struggling to procure POS machines. 50 days after the note ban, things are better but yet not normal, reports CNBC-TV18.
The package may include reduction in excise duty, labour law relaxations and skill training for the sector. The ministry has already given a presentation to the Finance Ministry about the benefits.
The incentives will be broadly on the lines of recently announced package for the textiles sector. Leather is a focus area under the 'Make in India' initiative.
Exports of half of the sectors out of the 30 closely monitored by the Commerce Ministry were in the negative zone in December due to a fall in global prices and demand.
Rocky Patel Incorporation today announced the launch of 20th Anniversary cigar in India through INTABAC, brand custodian ...
The framework has been conceived and structured to offer graded benchmark levels of an organisation's performance through a set of standard enabler and outcome parameters focusing on quality and environmental performances.
The leather footwear industry in Chennai seems all set to take some big strides. With the Budget reducing excise duty on leather shoes, manufacturers who were catering primarily to export markets, are now gearing up to take advantage of the big local opportunity. Jude Sannith gets us this report from Tamil Nadu's leather hub, Ranipet.
Around 33 percent of sales for Liberty Shoes comes from leather footwear above Rs 1000.
Secretaries finalised one year and three year action plan on Make in India, says DIPP secretary Amitabh Kant. He says specific sector-wise action plan will be implemented, while adding that the industry raised issues on predictable tax regime, infrastructure deficit, inverted duty structure and land availability.
Virola Group used an innovative strategy to catch the eye of overseas clients, is now among top three exporters in Agra
As the global economy recovers from recession the leather sector is hoping export of leather and leather products will reach USD 5.75 billion in FY 14 while the textile sector is optimistic of meeting India's apparel exports target of USD 17 billion for the current fiscal.
Leather stocks like Bata India, Liberty Shoes, Bhartiya International and financial stocks like Axis Bank, IDFC, Indusind Bank, Karnataka Bank, Reliance Capital will be getting astrological support says Satish Gupta of Astrostocktips.
Aviation, leather, textile, financial and paint sectors will be getting astrological support. Buy Arvind, Shriram Transport Finance, SBI, Reliance Capital, Muthoot Finance and accumulate Bata India, Asian Paints, Relaxo Footwears says Satish Gupta of Astrostocktips.
Paints, Leather, Auto and Brewery sectors will receive strong astro support, says Satish Gupta of Astrostocktips.
Pharma, Watches, Leather and Hospital sectors will be getting astrological support, says Satish Gupta of http://astrostocktips.in.
Personal Care, Leather, Pharma and Watches sectors will be getting astrological support, says Satish Gupta of http://astrostocktips.in.
The leather industry in India is estimated at USD 7 billion. India is one of the top exporters of leather along with France and the UK.
Finance Minister Pranab Mukherjee announced a 2 percentage point hike in the peak excise duty from 10% to 12%.
On the employment front, the country has been able to withstand the adverse impact of the global crisis and generate employment since July, 2009.