GST reforms will be transformational for the business: Union Minister of Commerce and Industry Shri Piyush Goyal at Bharat Nutraverse Expo 2025
GST
Dated:- 4-9-2025
Benefit of the new rates should be passed on to the consumers entirely: Shri Goyal
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The nutraceuticals industry is one of the biggest beneficiaries of the transformational changes in GST announced yesterday, said Union Minister of Commerce and Industry, Shri Piyush Goyal, while addressing the Bharat Nutraverse Expo 2025 today. The Minister added that the reduction in GST rates will provide a tremendous and unprecedented boost t
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lower prices naturally drive higher consumption and accelerate industry growth.
The Minister urged the industry to make a strong twin commitment to the Prime Minister-first, to pass on every rupee of savings from the GST reduction to consumers, and second, to actively promote Indian products. He stressed the need to support products made with the sweat and toil of hardworking Indians, products nurtured in the soil of India. He emphasized that when such products reach every corner of the nation, they embody not only economic value but also national pride and self-reliance.
Shri Goyal underlined that it does not matter whether the ownership lies with an Indian entrepreneur or a foreign investor-what matters is that the products are manufactured in India, creating jobs for Indian youth, generating opportunities for local communities, and contributing to the nation's growth story. He added that every product made in India carries with it the aspirations of 1.4 billion people and symboli
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he talent and skill of young India, along with government initiatives for ease of doing business, lower taxation, and ease of living, the country is on course to secure a better future for every child with access to quality education, healthcare, and world-class infrastructure.
Shri Goyal said that a fit and healthy India, supported by the nutraceuticals sector in a big way and by healthy food products, is key to India's growth. He noted that the sector is not only helping farmers and supporting micro, small and medium enterprises, but is also contributing to every Indian's healthcare. He highlighted the immense contribution of turmeric to health, the powerful benefits of ginger, and the role of probiotics in providing young Indians with quality protein and nutrition.
The Minister said that Prime Minister Narendra Modi is committed to ensuring that every citizen enjoys a good quality of life and healthy living, supported by both preventive and curative healthcare of the highest order
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