Machinery tax reduced for Indian footwear producers
Indian shoemakers are being encouraged to update their processes
India’s national government recently announced that it is to provide assistance to the country’s footwear industry by decreasing the import tax of shoemaking machinery by 5 per cent. As well as helping producers to update their manufacturing processes, the administration is reported to be assisting companies to promote innovative and sustainable products through a ‘Market Development Assistance’ fund. This is used to enable these manufacturers to have a presence at international trade shows – especially if they are targeting the US and EU markets. Leathermaking companies are also being assisted with the development of their tanning facilities, to make sure that there is sufficient raw material for shoe producers to utilise.
This article was originally published on page 8 of the December 2014 issue of SATRA Bulletin.