"GST reform is a landmark event in strengthening preventive healthcare and encouraging businesses. Easing the tax burden on critical health commodities such as diagnostic kits, thermometers, corrective eyewear, and glucose test strips; it brings in easier reach for households the tools for early detection and wellness. This adjustment should inspire people to adopt an early approach to health, reducing the risks and costs due to delayed treatment.
For businesses, especially the ones engaged in healthcare services and manufacturing, the reform creates an affordability-demand-innovation cycle. Eased taxes also place smaller businesses in a better position to expand, invest, and employ. This reform will not only empower individuals to take charge of their own wellness but will also fuel the growth of businesses that serve them, thus creating a powerful synergy between health and economic progress."
- Mr. Sanjaya Mariwala, Executive Chairman and Managing Director of OmniActive Health Technologies.
"We welcome the Government's forward-looking GST reform, which will have a far-reaching impact on India's economic growth by improving affordability, reducing working capital requirements, and boosting demand across industries. For the textile sector, this is a particularly transformative step. The reduction of GST on manmade fibre from 18% to 5% and on synthetic yarn from 12% to 5% will significantly strengthen the domestic textile industry, enhance competitiveness, and stimulate consumption. The revision of the apparel slab, raising the limit from ₹1,000 to ₹2,500, will provide a powerful boost to garments and apparel demand, thereby creating new opportunities across the textile value chain. At the same time, we believe that harmonizing GST on recycled polyester fiber and its raw material, PET bottles (18%), is an important area that needs attention to unlock the full potential of circular textiles. We remain committed to driving sustainable innovation, scaling domestic production, and contributing to India's journey towards Viksit Bharat @2047".— Mr. Rajeev Gupta, Joint Managing Director, RSWM Ltd.
Pankaj Gupta, MD & CEO, Pramerica Life Insurance on this development:
The GST exemption on individual protection and health insurance is a landmark step that will directly benefit consumers. By reducing costs for products such as term life and health insurance, this move makes essential protection more accessible to a wider section of society.
It enables customers to either come under the insurance fold for the first time or enhance their coverage within the same budget — a meaningful advantage in a country where underinsurance remains a concern.
On the investment side, unit-linked products are expected to deliver even better long-term efficiencies. These savings can be reinvested by policyholders, strengthening their financial security further, in a tax advantaged manner.
Dilip Modi, Founder & CEO of Spice Money
“The Government of India’s announcement of the Next-Gen GST reform is a landmark step that will directly uplift millions of rural households and small entrepreneurs. By lowering GST on essentials, healthcare products, and agricultural machinery, the reform goes beyond affordability to drive empowerment and opportunity for Bharat.
For rural families, reduced costs on daily-use items and school supplies mean real savings that can be redirected to education, healthcare, or growing livelihoods. For farmers, lower GST on tractors, irrigation systems, and bio-pesticides eases input costs and supports higher productivity. For micro-entrepreneurs, affordable appliances and sewing machines create new avenues for small businesses.
At Spice Money, we see firsthand how every rupee saved can spark real change, from better standard of living to improved digital adoption. This reform will boost consumption in rural India and strengthen belief in the formal economy, creating a cycle of growth, inclusion, and financial resilience. It is a timely and progressive step toward building an Aatmanirbhar Bharat.”
"The GST changes are a strong signal in the right direction. For businesses, that means less hassle and less time spent on compliance, especially the smaller businesses, which will most often struggle. To the consumer, the immediate effect is lower costs and a little extra money in their pocket, which, of course, increases demand._
_This is more than just a tax adjustment. Indirect tax cuts tend to work quickly because they encourage both consumption and production at the same time. While there will be a revenue impact of around ₹48,000 crore, it should be seen as an investment in growth rather than a setback._
_The timing, occurring just before the holiday season, is also prudent. It will give a boost to spending, increase confidence, and maintain the economy strong in the face of world uncertainties."_
- Mr. Suketu Thanawala, Partner at StraCon Business Advisory Services.
