New Delhi, September 4 (HS): Union Commerce and Industry Minister Piyush Goyal described the recent Goods and Services Tax (GST) reforms as transformative and urged industries to ensure that the entire benefit of reduced GST rates reaches the consumers. Speaking at the Bharat Nutraverse Expo 2025, Goyal highlighted that these reforms, the biggest since independence, will boost demand across sectors and strongly support India’s economic growth trajectory.

He emphasized that the GST rate cuts would particularly benefit the pharmaceutical and nutraceutical industries, MSMEs, farmers, and ultimately every consumer. The minister called upon businesses to seize the opportunity of expanded sales volumes and encouraged the promotion of ‘Made in India’ goods nationwide.

Goyal asserted that these historic GST changes will be a pivotal factor in India’s journey to become a developed nation by 2047, crediting Prime Minister Narendra Modi for driving this visionary reform. He described the tax rationalization as a Diwali gift that would enhance the quality of life for India’s 1.4 billion citizens.

Hindusthan Samachar / Jun Sarkar