In her budget statement, Union Finance Minister Nirmala Sitharaman has outlined policies to encourage employment and entrepreneurship in labor-intensive industries. She also detailed programs that the Government will implement to enforce specific policies and facilitation measures.
According to her, the Government will introduce a Focus Product Scheme specifically for the leather and footwear industries. Additionally, assistance will be provided for the machinery, design, and manufacturing processes needed to produce non-leather quality footwear. Support for leather shoes and other goods has also been announced.
A targeted product plan will be implemented to enhance the competitiveness, quality, and productivity of the footwear and leather industry in India. In addition to supporting leather footwear and goods, the program will promote design capacity, component manufacturing, and the creation of non-leather quality footwear, she explained.
According to her, the program is expected to create jobs for 2.2 million people, generate over US $ 48 million (Rs. 400 crore), and boost exports by over US $ 1.3 billion (Rs. 1.1 lakh crore).
Sitharaman also discussed plans to improve the national action plan for toys and measures for the toy industry. “We’ll put a plan in place to turn India into a global toy hub,” she stated.
