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On February 1, 2025, while presenting the Union Budget 2025-26 in Parliament, Union Finance Minister Nirmala Sitharaman made a major announcement to establish the National Manufacturing Mission to boost 'Make in India'. The mission aims to strengthen India’s manufacturing sector by involving small, medium, and large industries. It will provide policy support, execution plans, and monitoring to central and state governments.
The mission will focus on five key areas:
1.Improving ease of doing business and cost efficiency
2.Preparing a skilled workforce for future jobs
3.Strengthening the MSME (Micro, Small, and Medium Enterprises) sector
4.Ensuring technology availability and quality products
5.Promoting clean technology manufacturing
Furthermore, the Finance Minister revealed plans to develop a robust ecosystem for manufacturing solar panels, EV batteries, motors, and other environmentally-friendly products, leading to increased domestic value addition.
The government will also introduce measures to promote employment and entrepreneurship in labor-intensive sectors. Additionally, a new scheme will be launched to enhance the productivity and competitiveness of India’s footwear and leather industries, providing employment to millions and boosting business.
To establish India as a global toy manufacturing hub, a National Toy Plan will be introduced, focusing on the creation of high-quality, environmentally-friendly toys under the 'Made in India' brand.
Lastly, significant steps will be taken in the food processing sector, including the establishment of a new Food Technology Institute in Bihar. This will help boost farmers' incomes and provide skill training, entrepreneurship, and employment opportunities for the youth.
