Imperiled by the appreciating rupee, a delegation of Council for Leather Exports(CLE) on Tuesday met Prime Minister Manmohan Singh and urged him to grant sops for the leather sector. The delegation was led by Mukhtarul Amin, chairman, CLE.
While agreeing with the need for reviving the leather industry, which is among the leading employment generating sectors of the economy, the Prime Minister said he would consult finance minister P Chidambaram and commerce minister Kamal Nath and find a reprieve.
It may be mentioned that the council had earlier pleaded for the introduction of some measures which can act as a support system for the leather industry which is on the brink of closure due to the strong dip in revenues. The CLE had also suggested the introduction of Foreign Exchange Fluctuation Allowance (FEFA) to the extent of 6.22% of FoB value to support the leather industry till the rupee settles at pre-March level.