Overseas investment needed for Indian leather park
The State Industries Promotion Corporation of Tamil Nadu (SIPCOT) is looking for overseas companies to invest in a new leather and footwear park in southern India.
The new special economic zone (SEZ) in Irungattukottai (around 34 kms from Chennai) has been set up as part of the Indian Leather Development Programme (ILDP) and is expected to attract interest from both local and international leathergoods and footwear companies.
According to SIPCOT, the government is offering a number of incentives for prospective investors. The zone covers 622,000 square-metres of land and is very close to a footwear component park. Part of the area will be reserved for the Footwear Design & Development Institute (FDDI), which is establishing a centre there.
