Footwear giant Bata India has expressed strong support for the implementation of a Production-Linked Incentive (PLI) scheme in the footwear sector, asserting that such governmental backing would enhance manufacturing capabilities, increase exports, and position India as a global supply base.
The Indian government has proposed an allocation of ₹2,600 crore for the PLI scheme targeting the footwear and leather industry for the financial year 2024-25. This initiative aims to bolster productivity, quality, and competitiveness within the sector.
The announcement of this scheme has positively impacted the market, with shares of footwear companies like Bata India experiencing significant rallies. The sector aims to reach a market size of ₹4 lakh crore, with ₹1.01 lakh crore targeted for exports.