Union Budget 2025: Govt to launch focussed schemes for footwear and leather sectors, says FM Sitharaman

The Union Budget for 2025-26, presented today on February 1, has set a strong focus on boosting India's economic growth across various sectors. Finance Minister Nirmala Sitharaman, in her speech, highlighted key initiatives that aim to strengthen the country’s industries, create jobs, and drive innovation.

One of the major announcements was the introduction of a new scheme focused on India’s footwear and leather industries. This new program called the Focus Product Scheme, is designed to improve the productivity, quality, and global competitiveness of these sectors. It will specifically support the development of manufacturing capabilities, including the creation of better machinery and design capacity for producing high-quality footwear.

The scheme also aims to enhance the production of non-leather footwear, alongside leather footwear and related products. This initiative is expected to have a significant economic impact, including the creation of 22 lakh new jobs in the leather sector alone. With the anticipated improvements in production, it is projected that the scheme will generate a turnover of ₹4 lakh crore and increase exports to over ₹1.1 lakh crore.