Budget 2025: FM Sitharaman announces scheme to make India a global hub for toys
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.
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The government will launch a Focus Product Scheme for footwear and leather sectors. The government will also provide support for designing, machinery, manufacturing for production of non-leather quality footwear. Also, a support was announced for leather footwear and allied products.
“To enhance the productivity, quality, and competitiveness of India's footwear and leather sector, a focused products scheme will be implemented. The scheme will support design capacity, component manufacturing and provide support for the production of non-leather quality footwear, besides providing support for leather footwear and products,” she said.
The scheme is expected to facilitate employment for 22 lakh people and generate over Rs 400 crore and exports of over Rs 1.1 lakh crore, she said.
Sitharaman also talked about measures for the toy sector and about building on the national action plan for toys. “We will implement a scheme to make India a global hub for toys,” she noted.
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