The Union Budget 2025-26, presented by Finance Minister Nirmala Sitharaman, introduced a National Manufacturing Mission to strengthen India’s manufacturing capabilities. The initiative aims to provide a structured policy framework, execution roadmap, governance model, and monitoring system for both central ministries and state governments. This mission is expected to enhance industrial growth across small, medium, and large enterprises, reinforcing the “Make in India” vision.
The National Manufacturing Mission is built on 5 core pillars to accelerate industrial progress:
Additionally, the mission will provide strategic support for Clean Tech manufacturing, boosting domestic value addition in sectors such as solar PV cells, electric vehicle (EV) batteries, motors and controllers, electrolyzers, wind turbines, high-voltage transmission equipment, and grid-scale batteries.
Recognising the potential of labour-intensive industries, the government has introduced a Focus Product Scheme to enhance productivity, quality, and global competitiveness in India’s footwear and leather industry.
This initiative aims to make India a leading manufacturer in the global footwear and leather industry.
To position India as a global hub for toy manufacturing, the government has announced a National Action Plan for Toys.
The initiative aligns with India’s push for self-reliance (Atmanirbhar Bharat) and aims to reduce dependence on imports while promoting domestic toy manufacturers.
The Union Budget 2025-26 also prioritises food processing as part of the broader economic strategy. A National Institute of Food Technology, Entrepreneurship and Management will be established in Bihar, focusing on:
This move is expected to boost food processing activities and create a stronger ecosystem for agribusiness.
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Published on: Feb 6, 2025, 1:47 PM IST
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