Budget 2025: Domestic manufacturing capacities to be augmented for integration with global supply chains
Policy

Budget 2025: Domestic manufacturing capacities to be augmented for integration with global supply chains

BharatTradeNet will complement the Unified Logistics Interface Platform and will be aligned with international practices

  • By ICN Bureau | February 04, 2025

The Union Budget 2025-26 tabled in Parliament by Union Minister for Finance and Corporate Affairs Nirmala Sitharaman aims to initiate transformative reforms in domestic manufacturing and integrating India’s economy with global supply chains.

A digital public infrastructure, ‘BharatTradeNet’ (BTN) for international trade has been proposed to be set-up as a unified platform for trade documentation and financing solutions. In the budget speech Sitharaman stated that, “BTN will complement the Unified Logistics Interface Platform and will be aligned with international practices.”

The Finance Minister announced in the Union Budget 2025-26 that support will be provided to develop domestic manufacturing capacities for integrating the Indian economy with global supply chains. In this direction, the sectors will be identified based on an objective criteria.

It is also proposed that facilitation groups with participation of senior officers and industry representatives be formed for select products and supply chains.

Nirmala Sitharaman highlighted that the youth of India have both high skills and talent which are required for capitalizing on the opportunities related to Industry 4.0. “Our Government will support the domestic electronic equipment industry to leverage this opportunity for the benefit of the youth,” added Sitharaman.

It has been proposed in the Union Budget 2025-26 that a National Framework will be formulated as guidance to states for promoting Global Capability Centres in emerging tier 2 cities. This will suggest 16 measures for enhancing availability of talent and infrastructure, building bye law reforms, and mechanisms for collaboration with industry.

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