Manufacturing Financial News

Council for Leather Exports (CLE) said the scheme will support design capacity, component manufacturing, and machinery required for the production of non-leather quality footwear.

The emphasis was on the adoption of sustainable mobility solutions, signaling the broader industry transition toward electrification and alternative fuels.

Subscribe to enjoy similar stories. The 1970s were a turbulent era for industry in Bengal. Violent strikes and frequent bandhs drove many Kolkata-based companies to relocate.

National Manufacturing Mission.

Nirmala Sitharaman's budget proposals are expected to spur job creation across sectors as diverse as manufacturing, tourism, agriculture, leather, mining, healthcare, aviation, electronic equipment, startups, retail, real estate, MSMEs and global capability centres (GCCs).

electric vehicle batteries, motors and controllers, electrolyzers, wind turbines, very high-voltage transmission equipment and grid-scale batteries.

Subscribe to enjoy similar stories. The markets somersaulted. India Inc cheered.

Subscribe to enjoy similar stories. The first full budget of Modi 3.0 government’s arrived at a precarious time. India, the world’s fastest-growing major economy, is now grappling with a seven-quarter-low GDP growth rate in Q2 FY25.

Canada and Mexico say they’ve prepared the option of retaliatory tariffs to be used if necessary now that the White House says the U.S. will put in place 25% tariffs on imports from them this weekend

Finance Minister Nirmala Sitharaman's Budget 2025 stands out for its big tax benefits to the middle class, but several of her proposals will also impact different sectors positively. Below is a list of sectors, from EVs to shipping to insurance to footwear, which stand to gain from Sitharaman's proposals: Footwear and leather

Subscribe to enjoy similar stories. Budget 2025-26 has placed emphasis on the backward integration of India’s electronic goods value chain and other capital-goods industries with a reduction in basic customs duty on components. Among the proposals are a reduction in the duty on open cells for television panels from 10%-15% to 5% and parts of open cells to from 2.5% to 0%.

Subscribe to enjoy similar stories. New Delhi: The Union Budget 2025 laid out a host of key pointers to make India’s technology economy self-reliant.

Subscribe to enjoy similar stories. Mint brings you a special edition of Budget 2025, containing key takeaways, how it impacts various sectors, who benefits and who doesn’t, what’s costlier and what’s cheaper, and the big Budget numbers you should know.

Union Budget 2025-26 has proposed further exemptions and reductions in customs duties on key minerals and capital goods, in a move to strengthen domestic manufacturing and the electric vehicle (EV) ecosystem.

lithium-ion batteries, which industry stakeholders said, will help bring down production costs and enable development of a manufacturing ecosystem for zero-emission vehicles.

Budget 2025: Union Finance Minister Nirmala Sitharaman on Saturday in her Budget speech announced measures aimed at promoting employment and entrepreneurship opportunities in labour-intensive sectors. She also highlighted initiatives through which the government will implement specific policy and facilitation measures.

V Anantha Nageswaran, Chief Economic Advisor, says there are some challenges in the path of India achieving 7% plus growth in FY26 is a significant and prolonged spillover from global market correction onto Indian markets. The other risk factor, once again, can be what happens to the monsoon, etc, and also whether hiring and compensation, etc, in the private sector continue to lag behind profitability growth. Those are all the risk factors that can make this estimate come towards the lower end of the range rather than towards the upper end of the range or even better than that. Is there a scope of overperforming? Is seven plus percent growth possible in FY26? V Anantha Nageswaran: Yes, indeed, it is possible. It all depends on the speed with which some of the global factors play out and also whether any significant spillover happens from global financial markets, etc. And, of course, as always, the monsoon will be critical as well, and the speed with which private sector is able to look at hiring and compensation practices afresh and if the deregulation agenda also gathers momentum, it will also influence sentiment in a positive way leading to more investments and more hiring, etc. So, there is scope for this number to be exceeded in reality in FY26.

Subscribe to enjoy similar stories. Finance minister Nirmala Sitharaman will on Saturday deliver her eighth Union budget in a row as the National Democratic Alliance government that returned to office last year with reduced majority in Lok Sabha seeks to add vigor to economic growth and create more jobs. It is easy for a government to usher in reforms early into its term as there may not be any immediate political risks.

Union Budget 2025 is significantly shaped by global factors, including the ongoing influence of Donald Trump. His stance on trade and international relations casts a large shadow over India's economic policies, especially as the country grapples with slowing GDP growth, rising inflation, and trade imbalances. The key challenge lies in balancing the need for fair trade relations with the US while ensuring India’s manufacturing sector remains competitive and doesn't face the brunt of any tariffs or restrictions imposed by the US.