Prime Minister Narendra Modi emphasized the significant advantages of India’s Next-Generation GST (Goods and Services Tax) during the inauguration of the UP International Trade Show 2025 in Greater Noida. He noted that these reforms alleviate the financial burden on the poor and middle class, enhance business opportunities, and establish a more straightforward and transparent tax system while fostering self-reliance and attracting global investment. In his address to a large audience of traders, exporters, and entrepreneurs, Modi articulated how the reform simplifies the tax process, lessening the load on citizens and promoting business growth.
He provided a relatable example, stating that the tax on a ₹1,000 shirt previously amounted to ₹117, but under the new GST framework, it has dropped to just ₹35. Modi pointed out that these reforms not only relieve the financial pressure on middle-class families but also increase the competitiveness of Indian products in the international market. He described the Next-Gen GST as a reform beneficial to both consumers and businesses, aimed at establishing a system that is simple, transparent, and equitable. The Prime Minister connected the GST overhaul to his government’s vision of Atmanirbhar Bharat (self-reliant India), underscoring that a streamlined tax regime is crucial for attracting investment and enhancing India’s role in global trade.
He commended Uttar Pradesh for its evolving status as an economic hub, highlighting its appeal to domestic and foreign investors due to infrastructure improvements and supportive policies. Modi labeled the GST reform as a ‘game changer,’ reflecting the government’s commitment to modernizing outdated tax policies to stimulate economic growth. He also reassured businesses of the government’s ongoing efforts to reduce compliance burdens and enhance the ease of doing business. The UP International Trade Show 2025, where he made these statements, is a venue for showcasing India’s manufacturing, innovation, and export capabilities. With the launch of Next-Gen GST, the event holds increased significance, representing India’s commitment to fostering a simplified and investment-friendly economy.