Next-Generation GST Reforms Boost India’s Textiles Sector
The 56th GST Council meeting has introduced reforms aimed at revitalizing India's textiles sector by reducing GST rates on various textile products, enhancing competitiveness, and supporting domestic consumption. These changes are expected to lower production costs, boost demand, and help achieve a target of USD 350 billion for the textile and apparel market by 2030. The reforms also focus on correcting structural anomalies and supporting artisans and small businesses.
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