FM Announces Policy Push For Footwear & Leather Sector In Budget 2025-26

New Delhi, Feb 1 (KNN) Finance Minister Nirmala Sitharaman unveiled comprehensive measures to boost India's labor-intensive sectors in a significant policy announcement during the Budget 2025-26 presentation, with a particular focus on the footwear and leather industry. 

The initiatives are designed to enhance employment opportunities and foster entrepreneurship across these vital economic segments.

The government plans to implement targeted policy interventions aimed at strengthening the competitiveness, quality standards, and productivity of India's footwear and leather sector. 

Central to this initiative is a specialized product scheme that will provide support for designed capacity component manufacturing and the machinery essential for producing high-quality non-leather footwear.

The ambitious program is projected to generate substantial economic impact, with expectations of creating employment opportunities for 2.2 million people across the sector. 

The initiative is anticipated to catalyze significant financial growth, with projected revenue generation exceeding 4 trillion rupees. 

Additionally, the scheme aims to boost India's export capabilities, targeting export revenues of more than 1.1 trillion rupees.

These strategic interventions reflect the government's commitment to strengthening India's manufacturing capabilities while simultaneously addressing employment challenges. 

The focus on non-leather footwear production aligns with evolving global market demands and sustainable manufacturing practices, positioning India to capture a larger share of the international footwear market.

(KNN Bureau)