Budget 2025: India To Set Up National Manufacturing Mission

The government, in its Union Budget 2025-26, has proposed to set a National Manufacturing Mission to promote Make in India for the world.

The mission will support India's energy transition by way of support for cleantech, building an ecosystem for solar cells, EV batteries, and high-voltage transmission equipment.

Here's what the Budget 2025 said on MSMEs:

• Credit guarantee cover for MSMEs to be enhanced to Rs 10 crore from Rs 5 crore

• Investment and turnover limit for classification of all MSMEs will be enhanced to 2.5 and 2 times respectively. A customised credit cards with Rs 5 lakh limit will be launched for registered micro enterprises.

• A new scheme will be launched for 5 lakh women, SC-ST communities and first-time entrepreneurs. It will provide loans of Rs 2 crore to them.

• A focused product scheme will be launched for the footwear and leather sector to create employment of 22 lakh and generate significant exports.

• A national institute of food technology management will be set up in Bihar to bolster food processing activity.

• A new scheme will be launched to make India a global hub for toys.

"The budget underscores a transformative manufacturing mission, driving India towards an atmanirbhar, green, and Viksit Bharat by 2047," Jagjeet Sareen, partner at Dalberg Advisors and member secretary of Bharat Climate Forum. "By prioritising cleantech manufacturing, resilient supply chains, and innovation, the mission strengthens India's position in the global economy while advancing sustainability goals."