Union Finance Minister Nirmala Sitharaman, in her Budget speech, announced the launch of a National Manufacturing Mission to boost small, medium, and large industries, further strengthening the Make in India initiative. The mission will focus on clean tech manufacturing, supporting the development of solar cells, EV batteries, motors, controllers, and wind turbines, enhancing India’s position as a key player in the global green energy sector.
Recognizing the need to generate employment, Sitharaman stated that the government will undertake specific policy and facilitation measures to support labour-intensive industries.
A Focus Product Scheme will be implemented, which is expected to generate 22 lakh jobs, providing a major boost to employment in the sector.
Toy Industry: A dedicated scheme will be introduced to position India as a global hub for toy manufacturing, reducing dependence on imports and promoting local industries.
Strengthening the Food Processing Industry
To enhance value addition in agriculture and increase farmers’ income, the government will establish a National Institute of Food Technology, Entrepreneurship, and Management in Bihar. This institute will focus on skilling, entrepreneurship, and employment generation, particularly benefiting youth and farmers through advanced food processing techniques.
With these initiatives, the government aims to strengthen manufacturing, create jobs, and enhance India’s competitiveness across key industries, reinforcing its commitment to economic growth and self-reliance.