News GST Slabs Introduced
The Chamber of Trade and Industry (CTI) has welcomed the Modi government’s GST reforms, calling them a “game changer” for both businesses and consumers ahead of the festive season.
“The Modi government has given huge relief in GST rates to the traders and entrepreneurs of the country,” said CTI Chairman Brijesh Goyal, praising the Centre’s decision to slash tax rates across a wide range of goods.
The GST council has brought significant reductions – cars, three-wheelers, motorcycles, ACs, washing machines, 32-inch TVs, LED LCD monitors, projectors and motor parts have all seen their GST cut from 28% to 18%. Daily-use items, too, have benefited with rates dropping from 18% and 12% to just 5% or even zero in many cases.
According to CTI, these moves will not only boost consumer demand but also offset the impact of U.S. President Donald Trump’s tariffs on Indian exports.
“Modi government’s GST reforms will prove to be a tremendous cut of Trump Tariff because the demand for household goods will increase rapidly due to cheaper prices in the domestic market,” Goyal said.
The timing of the tax relief has given traders renewed optimism ahead of Navratri and Diwali. CTI estimates that the country could witness business worth ₹50 lakh crore during the festive period.
Goyal pointed out that many consumers had held back purchases of big-ticket items like TVs, refrigerators, cars, clothes, and electronics in anticipation of the GST Council’s decisions. “Due to the GST meeting, people had stopped shopping for the last 20 days. Now we expect bumper trade,” he noted.
The festival season in India is traditionally marked by a surge in consumer spending. CTI estimates that nearly five crore gifts across categories – from small household goods to luxury items – are exchanged during Diwali, contributing significantly to overall sales.
CTI General Secretary Gurmeet Arora and Senior Vice-President Deepak Garg emphasized that this year, there will be a stronger focus on Indian-made products. They appealed to both traders and consumers in Delhi to prefer homegrown goods.
Products such as earthen diyas, idols of Lakshmi and Ganesh, handicrafts, traditional wall hangings, and other festive décor items are expected to see massive demand. Alongside, FMCG products, toys, electronics, kitchenware, fashion apparel, textiles, footwear, furniture, cosmetics, and dairy items are all projected to get a major boost.
CTI Appeals, This Diwali the emphasis should be on buying indigenous goods. It is not just about boosting business but also about strengthening India’s economy.
Also Read: ‘40% GST’ Trends On X! GST On Cigarettes, Alcohol, Gambling Surges
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