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Informist, Saturday, Feb. 1, 2025

--BUDGET: New scheme to support mfg of non-leather footwear, pdts 

--BUDGET: To implement focused product scheme for footwear, leather sector 

--BUDGET: To implement scheme to make India a global hub for toys

NEW DELHI – The government will implement a scheme to support the design capacity, component manufacturing, and machinery required for non-leather footwear, Finance Minister Nirmala Sitharam said in her speech while presenting the Union Budget for 2025-26 (Apr-Mar) Saturday.

The scheme is expected to facilitate employment for 2.2 million and generate a turnover of INR 4 trillion and exports worth over INR 1.1 trillion. The scheme incentivises exports of select products with high export intensity and employment potential.

The government's policy measures will enhance productivity, quality, and competitiveness in India's footwear and leather sector, she said. Shares of footwear companies like Bata India, Campus Activewear, and Relaxo Footwear rose above 3% after the minister announced policy support for the sector.

For the toy sector, the government will implement a scheme under the National Action Plan for Toys to develop clusters, skills, and a strong manufacturing ecosystem. The scheme aims to establish India as a global hub for high-quality and sustainable toys that will represent the "Made in India" brand, she said.  End

Reported by Afra Abubacker

Edited by Akul Nishant Akhoury

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