01 February 2025, Mumbai
Finance Minister Nirmala Sitharaman announced a comprehensive set of measures during the 2025-26 Budget presentation aimed at revitalizing India's labor-intensive footwear and leather industries. The initiatives focus on creating jobs and fostering entrepreneurship within these key sectors.
The government plans targeted policy interventions to enhance the competitiveness, quality standards, and productivity of these industries. A key component is a specialized product scheme supporting the design, capacity component manufacturing, and machinery needed for high-quality non-leather footwear production.
This program is projected to have a significant economic impact, generating 2.2 million jobs across the sector. It is also expected to catalyze substantial financial growth, with projected revenue exceeding Rs 4 trillion. Furthermore, the scheme aims to boost India's export capabilities, targeting export revenues of over Rs 1.1 trillion.
These strategic interventions demonstrate the government's commitment to strengthening India's manufacturing base while addressing employment challenges. The emphasis on non-leather footwear aligns with changing global market demands and sustainable manufacturing practices, positioning India to capture a greater share of the international footwear market.
