Indian Agri Sector Rejoices in GST Cuts

The Indian agriculture sector has hailed the restructuring of Goods and Services Tax (GST), as the Indian Rice Exporters Federation (IREF) on Saturday said that the reform will help the farmers due to the enhanced demand.

- CORRESPONDENT

Dev Garg, Vice President, IREF, stated that the Goods and Services Tax (GST) has led to a surge in positive sentiment about the Indian economy. With massive cuts in GST rates for most consumer items, we expect a significant uptick in demand for premium varieties of rice.

"The GST bill has led to a surge of positive sentiment about the Indian economy, and with huge cuts in GST rates for most consumer items, we expect a huge uptick in demand for premium varieties of rice. In the upcoming season, basmati rice and other premium non-basmati rice varieties are expected to increase in demand, which is a plus for the farmers," Garg added.

He further added that the restructuring of indirect taxes will boost consumer demand, especially in modern retail and for high-value varieties.