Budget 2025: India Goes For Manufacturing Gold

The National Manufacturing Mission focuses on five key areas: making it easier and cheaper to do business, preparing a skilled workforce for in-demand jobs, supporting a strong and dynamic MSME sector, providing access to technology, and ensuring quality products.

Omega Seiki’s Narag stated that the mission will boost India’s export potential by improving production quality, lowering manufacturing costs, and increasing global competitiveness.

Sandiip Bhammer, founder and managing partner at GFC, mentioned that the initiative will speed up the use of sustainable production methods. He also pointed out that while the budget shows India’s goal to promote cleantech manufacturing, it lacks a clear plan and specific budget for it.

As expected, the central government gave a big boost to the manufacturing sector in the Union Budget 2025-26, presented on February 1.

This includes plans like creating a National Manufacturing Mission to support cleantech manufacturing and MSMEs (small and medium-sized enterprises), along with a removal of basic customs duty on certain materials used in lithium-ion batteries. Finance Minister Nirmala Sitharaman, in her 8th consecutive budget, aimed to strengthen various sectors within manufacturing. She mentioned that the government will set up a National Manufacturing Mission to support small, medium, and large industries, with a focus on ‘Make in India’ through policy support, action plans, and proper monitoring.