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The Indian Department of Industrial Policy and Promotion (DIPP) is trying to boost a new initiative to attract luxury brands’ production into the country.
As part of the “Make in India” initiative, the DIPP is identifying possible new investors in the luxury segment and in parallel mapping the territory to establish the best production sites. The “Make in India” initiative is aimed at reforming the Indian industry, starting with the highly labour-intensive leather sector: India has one of the world’s largest cattle livestock populations, giving companies the access to abundant raw materials for their production. According to a study by the National Skill Development Corporation, leather exports could grow up to 25% per annum over the next five years, with the domestic market doubling by 2020. The Government is also establishing contacts with large tanneries around the world, in particular Brazil and Portugal, to exchange know-how and possibly start production in India.
A report on this initiative has mapped out possible new production sites and is expected to be published by the end of August.
Source: The Economic Times