• In a significant move to bolster the ‘Make in India’ initiative, Finance Minister Nirmala Sitharaman announced the launch of the National Manufacturing Mission to cover small, medium and large industries while presenting the Union Budget 2025-26 in Parliament on February 1.
The National Manufacturing Mission will lay emphasis on five focal areas:
i) Ease and cost of doing business.
ii) Future ready workforce for in-demand jobs.
iii) A vibrant and dynamic MSME sector.
iv) Availability of technology.
v) Quality products.
• The mission aims to boost manufacturing capabilities across key sectors, particularly in clean tech, and to foster local production in areas such as solar cells, electric vehicle (EV) batteries, and high-voltage transmission equipment.
• The mission seeks to develop an ecosystem for these technologies at the local level, positioning India as a global manufacturing hub in the clean energy and sustainable technology sectors.
• By focusing on these high-growth areas, the government is pushing for a greener and more self-reliant manufacturing sector, supporting both domestic production and the global supply chain.
• In addition to the mission, credit guarantee coverage for Micro, Small, and Medium Enterprises (MSMEs) will be expanded to Rs 10 crore, up from the current Rs 5 crore, encouraging growth and financial inclusion for smaller enterprises.
• The investment and turnover limits for MSMEs will also be enhanced, further supporting their expansion.
• This initiative is part of India’s broader strategy to become a manufacturing powerhouse, attract investments, and create job opportunities across various industries.
(The author is a trainer for Civil Services aspirants.)