The Union Budget 2025-26, presented on February 1, emphasizes economic growth through targeted initiatives across multiple sectors. Finance Minister Nirmala Sitharaman outlined key measures aimed at strengthening industries, boosting employment, and encouraging innovation to sustain India’s development momentum.
A major highlight of the budget is the introduction of the Focus Product Scheme, specifically designed to enhance India’s footwear and leather industries. This initiative aims to improve manufacturing efficiency, upgrade machinery, and enhance design capabilities, ensuring the production of high-quality footwear. By fostering global competitiveness, the scheme seeks to support both leather and non-leather footwear production.
The initiative is expected to generate substantial economic benefits, including the creation of 22 lakh new jobs within the leather sector. Additionally, the scheme is projected to drive a turnover of ?4 lakh crore while increasing exports beyond ?1.1 lakh crore, significantly boosting India’s presence in global markets.