PM underscores the transformative impact of the latest GST reforms on India’s manufacturing sector

Key Points

1. GST (Goods and Services Tax) was implemented in India on 1 July 2017
2. Latest GST reforms were announced in 2024 to simplify compliance for manufacturers
3. Prime Minister Narendra Modi highlighted the transformative impact on the manufacturing sector
4. Manufacturing sector contributes roughly 16% to India’s GDP
5. GST aims to create a unified national market by subsuming multiple indirect taxes