Retail Sector Budget 2025: FM Sitharaman announces big wins for leather, toys and food processing 

New Delhi: Retail Sector Budget 2025: The much-anticipated Union Budget 2025, the first under Modi 3.0, is being presented by Finance Minister Nirmala Sitharaman in the Parliament today. With a strong emphasis on ‘Garib, Yuva, Annadata, and Nari,’ the Budget focused on accelerating growth, inclusive development, private sector investments, uplifting household sentiments, and enhancing the spending power of India’s middle class.Here are the key announcements for the retail sector:1. Big boost for leather and footwear industryThe government is set to implement specific measures to enhance the productivity, quality, and competitiveness of India’s footwear and leather sector. A focused product scheme will be launched to support design capacity, component manufacturing, and machinery for non-leather footwear, alongside leather-based products.This initiative is expected to generate Rs 400 crore in revenue.It is projected to create employment for 22 lakh people.The sector aims to achieve exports worth Rs 1.1 lakh crore.2. Making India a global hub for toy manufacturingBuilding on the national action plan for toys, the Finance Minister announced a new scheme to establish India as a global hub for toy manufacturing by reducing import dependence and boosting local production.The government will focus on developing clusters, skilling initiatives, and an ecosystem for sustainable production. Finance Minister highlighted a special attention on innovative and high-quality toy manufacturing under the ‘Made in India’ brand.3. Major push for food processing and nutritionTo empower the food processing industry, the government has announced the establishment of the National Institute of Food Technology, Entrepreneurship, and Management in Bihar.The initiative will enhance farmers’ incomes by adding value to their produce.It will create opportunities for skilling, entrepreneurship, and employment for youth.The Finance Minister added that the support will be extended to the fruits and vegetable sector, aligning with increased health consciousness among consumers.4. Aatmanirbharta in pulsesFM Sitharaman announced a six-year mission for Aatmanirbharta in Pulses with a special focus on toor, urad, and masoor dals. Additionally, a national mission on high-yield seeds will be rolled out to improve agricultural productivity.5. Bihar’s makhana industry gets a dedicated boardRecognizing the potential of Makhana as a high-value crop, the government has announced the establishment of a Makhana Board in Bihar. This move is expected to boost the production, processing, value addition, and marketing of Makhana.India Union Budget 2025
Nirmala Sitharaman retail announcements
food processing industry initiatives
leather footwear industry India
global toy manufact