Noting the recent update on the GST Council’s reform on the textile and apparel sector, Mr. Rajeev Gupta, Joint Managing Director of RSWM Ltd., shared the following insights:
“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
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