GST Rate Cut Reactions India LIVE: Orient Electric CEO hails GST cuts as festive season booster Industry News

Popular food products such as namkeens, pasta, instant noodles, coffee, butter and ghee have also been placed under the 5 per cent slab. The agriculture and renewable energy sectors have received relief, with bio-pesticides, solar heaters and windmills also moved to the lower rate. A three-year safeguard duty on steel imports, initiated by DGTR due to increased imports and declining domestic profits, faces strong opposition. GTRI’s report suggests this duty could negatively impact auto, engineering, and construction sectors by raising input costs. Stakeholders argue that the duty will harm export competitiveness and create sourcing challenges, despite domestic steelmakers’ profitability.

• Managing Director Manish Bandlish said the move would boost affordability, accessibility, and demand for packaged value-added dairy products, while also creating stronger market opportunities for farmers.
• This timely move is set to bring renewed cheer to consumers and inject fresh momentum into the Indian Automotive sector.
• This expansion will boost the company’s manufacturing capacity to 2.5 MnT and enable the production of colour-coated and advanced alloy products for various industries.
• Confident of meeting the anticipated surge, Negi affirmed Orient Electric’s readiness to support growth, adding that the reforms would drive volumes, lift consumer sentiment, and contribute to a prosperous festive season.
• A detailed investment strategy and timelines are expected later in 2025 as part of Nippon Steel’s public medium-term business plan update.

This timely move is set to bring renewed cheer to consumers and inject fresh momentum into the Indian Automotive sector. Making vehicles more affordable, particularly in the entry-level segment; these announcements will significantly benefit first-time buyers and middle-income families, enabling broader access to personal mobility.” He highlighted that the shift towards a simplified tax regime would directly benefit consumers through reduced prices of household essentials. “Lower GST rates on consumer goods will not only enhance affordability but also encourage families to adopt modern and energy-efficient electrical solutions,” Negi stated. Several everyday essentials have been shifted into the 5 per cent bracket. Personal care products like soaps, shampoos, toothbrushes and hair oil now attract reduced rates.

Kharge reminded that the Congress had consistently demanded a simplified GST framework in its 2019 and 2024 manifestos, pressing for rationalisation and easier compliance. He said the existing system has hit MSMEs and small businesses the hardest, forcing them into complex paperwork and higher costs. He assured that Mother Dairy remains committed to ensuring consumers enjoy wholesome, safe, and quality dairy at better value. Ravindra Singh Negi, Managing Director and CEO of Orient Electric, has lauded the government’s landmark move to rationalise the Goods and Services Tax (GST) structure, calling it a “timely reform” ahead of the festive season. The reforms reduce the four-tier structure to just two primary slabs – 5 per cent and 18 per cent – while retaining a 40 khelo24 login per cent rate for sin and luxury goods. The new reforms, announced by Finance Minister Nirmala Sitharaman, will cone into effect from September 22.

The recent GST rates rationalisation in the cement industry is expected to increase demand and prices, with larger players planning to raise prices by Q1 FY27. Nuvama predicts that consumers will benefit from most of the benefits, but some companies may be affected if states reduce incentives and subsidies. Cleveland-Cliffs has signed rare multiyear fixed-price contracts to supply steel—primarily industry-standard sheet steel—to major U.S. automakers such as General Motors, Ford, and Stellantis. The deals reflect a strategic shift for both the steel supplier and the auto industry as they seek predictability and resilience amidst an uncertain policy and trade environment. Industry Today is a trusted digital media platform serving manufacturing and industrial professionals, C-level executives and industry influencers. We publish authoritative coverage of key trends, company insights, and innovations shaping the sector.

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Importantly, 33 life-saving drugs, including critical cancer medications, have been moved to the nil rate. The DGTR has recommended a safeguard duty on certain flat steel imports for three years to protect domestic manufacturers from a surge in inbound shipments. This decision follows a probe initiated by the Indian Steel Association, citing a significant increase in imports causing injury to the domestic industry.

Apollo Healthco, she said, is committed to driving prevention-focused healthcare for a stronger Vikshit Bharat. “The rationalisation of GST for frozen foods and meats is a progressive move that will uplift the entire category. It makes nutritious and hygienic options like Godrej Yummiez more accessible, while promoting smarter food habits and reducing wastage,” he noted. He added that the reforms would encourage innovation, expand distribution, and strengthen consumer trust in frozen food as a mainstream choice. Items that were previously taxed at 28 per cent, including small cars, motorcycles under 350cc, tractors, cement and auto parts, will now fall under the 18 per cent slab.

Major companies like Tata Consultancy Services and Infosys are providing AI tools to their employees. This shift is boosting productivity and changing software development. The rise of AI coding assistants may impact entry-level programming jobs. TCS has rolled out delayed salary hikes of 4.5–7% for junior to mid-level staff, effective from September 1, 2025, with top performers getting over 10%. It is understood to be the lowest hike in the last four years given the slowing business environment’s impact on the IT industry and TCS financials.

Discussions centered on increasing production and exports, streamlining costs, and maximizing capacity utilization. The collaborative effort aims to foster a competitive, resilient, and sustainable ecosystem for the iron and steel industry through government-industry coordination. Ray added that the reforms would make life-saving drugs, advanced treatments, and preventive care more accessible to a wider population. He expressed optimism that such policy changes will accelerate India’s path toward equitable and sustainable healthcare. Shobana Kamineni, Executive Chairperson of Apollo Healthco, hailed the government’s GST reforms as transformative for healthcare access. Calling the exemption of health and life insurance from GST a “masterstroke,” she said it turns protection into a right rather than a privilege.

With real estate and infrastructure expected to see increased activity, demand for lighting, fans, and electrical products is set to rise. Angel One introduces web-based tools to empower F&O traders in India with precision and speed. The platform enhances market tracking through expanded watchlists, FII/DII activity monitoring, and an improved option chain experience. TradeOne offers a focused trading setup, while post-trade analysis aids in refining strategies and managing risk effectively. Jindal Steel’s net profit increased by nearly 12% to Rs 1,496 crore in the June quarter, driven by improved profitability despite a 9% drop in gross revenue to Rs 14,336 crore.

Patanjali Foods CEO Sanjeev Asthana said the company will fully pass on the benefits of GST rate cuts to consumers. He noted the move would boost FMCG penetration across urban and rural India, spurring wider consumption. Categories such as ghee, soaps, biscuits, noodles, honey and chyawanprash will see price relief.

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Mukand Sumi Special Steel will invest Rupees 2,345 crore for a new project in Kanakpura, Karnataka. This venture aims to boost the company’s production to 7,00,000 tonnes annually. The facility will manufacture high-grade steel for various sectors like automotive and railways. Additionally, Nippon Steel is transferring proprietary technology, including hydrogen-based steelmaking, to reduce U.S. Steel’s carbon footprint by 30% by 2030, with updated capacity targets raising domestic crude steel output from 17 to 20 million tons annually. A detailed investment strategy and timelines are expected later in 2025 as part of Nippon Steel’s public medium-term business plan update.

Kotak Mahindra Asset Management MD Nilesh Shah hailed the GST reforms, calling them a balanced move that curbs inflation while fuelling growth. He said the decision would boost consumer confidence, simplify business processes, and maintain fiscal discipline, while also cushioning the economy against tariff shocks. A high-level inter-ministerial meeting convened in New Delhi to strategize on enhancing India’s iron ore and steel sectors.