Union Budget
Union Budget: Finance Minister announces National Manufacturing Mission
A “National Manufacturing Mission” to cover small, medium and large industries for furthering “Make in India” was announced by the Union Minister for Finance and Corporate Affairs , Nirmala Sitharaman while presenting the Union Budget 2025-26 in Parliament on Saturday.
This will provide policy support, execution roadmaps, governance and monitoring framework for central ministries and states.
The National Manufacturing Mission will lay emphasis on five focal areas i.e. ease and cost of doing business; future ready workforce for in-demand jobs; a vibrant and dynamic MSME sector; availability of technology; and quality products.
The Mission will also support Clean Tech manufacturing and aims to improve domestic value addition and build the ecosystem for solar PV cells, EV batteries, motors and controllers, electrolyzers, wind turbines, very high voltage transmission equipment and grid scale batteries, the Union Finance Minister added.
The Finance Minister also outlined measures for Labour-Intensive Sectors, adding that Government will undertake specific policy and facilitation measures to promote employment and entrepreneurship opportunities in labour-intensive sectors.
The Union Minister specified that to enhance the productivity, quality and competitiveness of India’s footwear and leather sector, a focus product scheme will be implemented.
The Union Finance Minister further informed that the scheme will support design capacity, component manufacturing, and machinery required for production of non-leather quality footwear, besides the support for leather footwear and products.
The scheme is expected to facilitate employment for 22 lakh persons, generate turnover of Rs. 4 lakh crore and exports of over Rs. 1.1 lakh crore.
The Union Minister further proposed National Action Plan for Toys to be implemented to make India a global hub for toys.
The scheme will focus on development of clusters, skills, and a manufacturing ecosystem that will create high-quality, unique, innovative, and sustainable toys that will represent the 'Made in India' brand, the Minister added.
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