New Delhi: In a significant move to strengthen India’s industrial landscape, Union Finance Minister Nirmala Sitharaman announced the launch of a National Manufacturing Mission while presenting the Union Budget 2025-26 in Parliament today. The initiative will support small, medium, and large industries, providing a comprehensive policy framework, execution roadmap, and governance structure for both central ministries and states.
The mission will focus on five key areas: ease and cost of doing business, developing a future-ready workforce, strengthening the MSME sector, promoting technology adoption, and ensuring quality manufacturing standards. Special emphasis will be placed on Clean Tech manufacturing, with incentives aimed at boosting domestic production of solar PV cells, EV batteries, wind turbines, electrolyzers, very high voltage transmission equipment, and grid-scale batteries.
To generate employment and foster entrepreneurship, the government has pledged targeted policy measures for labour-intensive sectors. A focus product scheme will be introduced to enhance the productivity and competitiveness of India’s footwear and leather industry. The scheme will support design capacity, component manufacturing, and advanced machinery for both leather and non-leather footwear. This initiative is expected to create 22 lakh jobs, generate ₹4 lakh crore in turnover, and boost exports to over ₹1.1 lakh crore.
Additionally, the Finance Minister announced a National Action Plan for Toys, aimed at making India a global hub for toy manufacturing. The plan will promote cluster development, skill enhancement, and a strong manufacturing ecosystem to produce high-quality, innovative, and sustainable toys under the ‘Made in India’ brand.
In line with the government’s ‘Purvodaya’ initiative, Sitharaman also unveiled plans to establish a National Institute of Food Technology, Entrepreneurship, and Management in Bihar. The institute will bolster food processing activities across Eastern India, offering better value addition for farmers, along with skilling, entrepreneurship, and employment opportunities for youth in the region.
With the National Manufacturing Mission and its associated initiatives, the government aims to accelerate industrial growth, enhance domestic production capabilities, and position India as a global manufacturing powerhouse in the coming years.
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