Budget 2025, Feb. 1 -- Union Finance Minister Nirmala Sitharaman announced the "Focus Product Scheme" for the footwear and leather industry on Saturday, February 1. According to the budget announcement, India aims to generate 22 lakh jobs in the economy through this scheme.

"To enhance the productivity, quality, and competitiveness of India's footwear and leather sector, a focus product scheme will be implemented," as per Nirmala Sitharaman's budget announcement.

A Focus Product Scheme (FPS) is an export policy that aims to promote exports and diversify the export basket. This diversification helps India reduce the risk of an industry depending on a limited number of commodity exports. The government uses this scheme to promote multi-ca...