The leather sector, which employs 2.5 million people, has a potential to create two million jobs in the next five years, Mahendra Nath Pandey, Union Minister for Skill Development and Entrepreneurship, said.
“The Government of India has allowed 100% foreign direct investment (FDI) in the sector and rationalised export duty on raw and semi-finished leather,” he said at an event here.
Dr. Pandey said India accounted for about 13% of the world’s leather production. “The leather and leather products industry contribute less than 1% to India’s GDP and footwear industry contributes 2% to India’s GDP. Indian leather industry has a huge potential for exports. It can reach $9 billion by 2020 from the present $5.85 billion,” he said.’
He urged the industry to support the cobbler community in Chennai by tapping the corporate social responsibility funds.
The Minister distributed Recognition of Prior Learning (RPL) certificates to the graduating trainees under Pradhan Mantri Kaushal Vikas Yojana (PMKVY) of Skill India, who were trained, assessed and certified on their existing skill sets across leather companies with the help of Leather Sector Skill Council (LSSC).
K. Pandiarajan, Minister for Tamil Language, Tamil Culture and Archaeology, was present on the occasion.