The Budget announcement of import duty exemption on certain products such as embellishments and wet blue chrome tanned leather by bonafide exporters will help in boosting the outbound shipments from the sector, CLE said on Wednesday.
Council for Leather Exports (CLE) Chairman Sanjay Leekha said that this is major support that will reduce the cost of import of critical inputs /embellishments, which are imported as per requirements of overseas buyers and will promote export of value-adde .
Finance Minister Nirmala Sitharaman in her Budget speech said that to incentivise exports, exemptions are being provided on items such as embellishment, trimming, fasteners, buttons, zipper, lining material, specified leather, furniture fittings and packaging boxes that may be needed by bonafide exporters of handicrafts, textiles and leather garments, leather footwear and other goods.
