Capitalmind CEO Deepak Shenoy responded enthusiastically to Finance Minister Nirmala Sitharaman’s Union Budget 2025-26 announcements, particularly praising the government’s focus on manufacturing in the footwear and toys sectors. Reacting to the proposals, Shenoy said, “Footwear big time move—and leather also included. Also toys, India to become a global hub for toys. Manufacturing system push. This is awesome. We should be making our own toys!”
Presenting the Budget, Sitharaman on Saturday unveiled two key schemes aimed at boosting domestic manufacturing. The Focus Product Scheme for Footwear & Leather Sectors is designed to enhance productivity, improve quality, and strengthen the global competitiveness of India’s footwear and leather industries.
The initiative will support design capacity, component manufacturing, and machinery for non-leather quality footwear, while also providing backing for leather footwear products. The scheme is expected to create employment for 22 lakh people, generate a turnover of ₹4 lakh crore, and achieve exports exceeding ₹1.1 lakh crore.
In addition, the government announced a scheme to make India a global toys hub, with the goal of creating high-quality toys that proudly represent the ‘Made in India’ brand. The initiative will focus on developing manufacturing clusters, enhancing skill development, and fostering an ecosystem that encourages the production of unique, innovative, and sustainable toys.
The Finance Minister also announced a Nuclear Energy Mission for Viksit Bharat. “Development of at least 100 gW of Nuclear energy by 2047 is essential for our energy transition. For active partnerships with the private sectors towards this goal, amendments to the Atomic Energy Act and Civil Liability for the Nuclear Damage Act will be taken out..”
As a part of the Nuclear Energy Mision for Research and Development, at least five indigenously developed small modular (nuclear) reactors will be operationalised by 2033, the finance minister said.