Piyush Goyal Thanks Prime Minister for Deferement of Increase in GST Slab From 5% to 12% for Textiles Sector

05 January 2022: Union Minister for Textiles, Commerce & Industry and Consumer Affairs and Public Distribution, Piyush Goyal has said that Industry and Government are partners in India’s growth story and now, is the time to be a Global Champion in Textiles by taking up bigger & bolder targets. Interacting virtually with the leaders of Textile Industry in India. Goyal stated that in this period of the Azadi ka Amrit Mahotsav, we must all collectively put forth our efforts in one direction to realise our goals. Goyal asked the Textile industry to work for achieving the target of $100 billion exports in a quick time.

Thanking Pime Minister Shri Narendra Modi and Finance Minister for the decision to defer the increase of tax slab from 5% to 12% for Textiles, taken in 46th GST Council Meeting, Goyal said that this is a new year gift for the Textile Industry. He added that the requests of industry stakeholders was considered in present challenging times when the sector is on the path of recovery.

The Minister mentioned that under Prime Minister, the textile sector has received a new boost to achieve Speed, Skill & Scale. He emphasized that to make India Aatmanirbhar, we need to make our Artisans, Weavers, Farmers & MSMEs Aatmanirbhar.

Goyal called upon the Textiles Industry Leaders to send suggestions for improving and developing the sector further. He also said that collectively with Subka Saath, Subka Vikas, Subka Prayas and Subka Vishwas we will surely achieve all of our targets.