TN government sings five MoU worth Rs 2,250 crore in footwear and leather sector

The Tamil Nadu government signed five memoranda of understanding (MoUs) for an investment worth Rs 2,250 crore in the footwear and leather sector, on Tuesday in the presence of Chief Minister M K Stalin who unveiled the ‘Tamil Nadu Footwear and Leather Products Policy 2022’.

The policy is aimed at attracting Rs 20,000 crore investment in the leather sector by 2025 and in creating employment opportunities to 2 lakh people. It would transform Tamil Nadu into the most favoured destination for manufacturing of footwear and leather products in Asia, he said and appealed to the industries to popularise ‘Make In Tamil Nadu’ products in a global arena.

“In order to achieve the USD 1 trillion economy by 2030, Tamil Nadu should attract capital intensive high-tech industries and employment intensive industries,” he said while speaking at the Tamil Nadu Footwear and Leather Sector Conclave 2022 here.

KICL SEMS, Wagon International, KICL, Walkaroo and KICL (footwear cluster) are the five firms with which the state government signed the MoUs. These would generate jobs to 37,450 people.

Also, the Chief Minister laid the foundation stone for a Rs 400 crore mega footwear manufacturing park at Panapakkam, Ranipet, on the occasion.