What are the key budget announcements for the retail and Consumer goods sector in 2025?
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Some of the key budget announcements for the sector include:
Launch of a product scheme to enhance productivity and quality of India's footwear and leather sector.
Improving design capacity, machinery and component manufacturing for leather-based products and non-leather footwear.
Implementation of a new scheme to reduce import dependence and encourage local production.
Establishing clusters, skilling initiatives, and building sustainable production.
Innovative and high-quality toy manufacturing under the 'Made in India' brand.
Establishment of the National Institute of Food Technology, Entrepreneurship, and Management in Bihar.
Extension of support to the fruits and vegetable sector for health-conscious consumers.
The six-year mission for Aatmanirbharta in Pulses focussed on toor, urad, and masoor dals.
Focussing on a national mission for high-yield seeds. ,Establishment of a Makhana Board in Bihar while recognising the crop as one with high potential.
How will the Union Budget 2025 impact the retail and consumer goods sector?
Some of the impacts include:
The leather industry is expected to generate Rs 400 crore in revenue, create employment for 22 lakh and achieve exports worth Rs 1.1 lakh crore.
Establish India as a global hub for toy manufacturing
Establishment of the National Institute of Food Technology, Entrepreneurship, and Management in Bihar to enhance farmers' incomes and create opportunities for skilling, entrepreneurship, and employment for youth.
Increase in agriculture productivity with high-yield seeds.
Boost the production, processing, value addition, and marketing of Makhana.
