| | OCTOBER 202519WILL GST REFORM BENEFIT THE COMMON MAN? LEADERS TALKIndustry VoiceAnurag Sharma, Managing Director and CEO, AKAI India says, "The new GST rate cut from 28 to 18 percent is a progressive reform as it will make electronic items like televisions, air-conditioners, and other appliances significantly more affordable for millions of Indian households. The 18 percent GST bracket enables consumers to save around Rs. 3000 to 5000 on major appliances and encourages them to fulfil their needs this festive season. This bold step will boost customer demand in tier II and III cities, essentially. The new GST rate cuts will also empower the entire electronics industry and fuel its momentum. Additionally, the industry will be able to enjoy faster transit times across state borders, enhanced overall operational efficiency, and reduced logistics costs."Anand Chandra, Co-Founder & Executive Director, Arya.ag says, "This is a welcome step that brings direct relief to farmers. Lower GST on machinery, tractors, and agri inputs makes essential tools more affordable and helps farmers keep more of their earnings. For smallholders, in particular, this can make a real difference by reducing upfront costs and encouraging greater use of efficient, modern equipment.""At Arya.ag, we work with farmers across the country and see how small shifts in cost structures can influence decision-making. When inputs are priced right and income potential improves, farmers are more confident to invest in their fields. That confidence feeds into better outcomes for productivity and income stability.""A move like this also supports the broader agri ecosystem. It makes farming more viable, strengthens rural demand, and creates more predictable conditions for businesses that serve farmers. The sector grows when policies respond to on-ground realities, and this one does. It will be important now to ensure that awareness reaches the last mile so farmers across regions can take advantage of these changes. The benefits are clear, and this move can support growth across the agricultural value chain." Please find the attached image of Anand Chandra for your reference."Anil Pandey, Project Director ­ REPL says, "The GST Council's decision to rationalize tax slabs and reduce rates on primary construction materials such as cement is not just crucial, it was also overdue. It simplifies one of the many persistent cost challenges of the real estate sector, especially in the affordable and mid-income housing segments. By lowering tax rates on the core materials, developers will be able to modify their pricing strategies, which in turn, will greatly enhance affordability for the end users. These users will gain better accessibility to the materials without having to compromise on quality.""The consequences and effects on construction projects are impactful as well. Lowering core material costs gives capital the potential to enable faster recovery cycles, which greatly accelerates execution timelines and allows public and private players to optimize capital deployment. Multiple large scale infrastructure initiatives, including roads, urban utilities, and/or collaboration transit corridors, will greatly benefit from better financial construction and planning, as well as faster and cost effective rollouts.""All in all, this decision will greatly enhance the cross-silo efficiencies and predictability in the entire built regime. It is the right step in the right direction, and it removes the persistent inefficiencies to the system, while providing support and unlocking the growing desired demand."CA K Ravi Senior Vice President BCIC says, "The proposed GST revision is expected to benefit large, medium, and MSME sectors by increasing production capacities, improving competitiveness, and enhancing their overall growth prospects. This will enable them to expand their operations, invest in new technologies, and explore new markets. With increased economic activity, businesses are likely to create more jobs, contributing to the overall growth and development of the economy. The simplification of the GST procedures will help in ease of doing business.""The rationalization of GST rates on automotive vehicles and parts is a truly welcome and a good development thereby making vehicles more affordable across all segments. Cement is a key input for infrastructure and housing, reduction in GST rates will boost consumption and support projects from affordable housing to large-scale infrastructure."Adarsh Kataruka, Managing Director, SoulAce says, "The new GST reform will boost consumption and bring equity in the system. Fewer slabs in essentials like food, medicine and insurance will enable inclusive growth and sustainable development in communities. For CSR and social development, it indicates that more resources can be directed towards social impact".GST Revisions a Welcome Boost for Higher Education and Research
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