GST discount coming for handicrafts in J&Okay? Right here’s what Union Minister Piyush Goyal promised

Union Minister Piyush Goyal on Sunday (July 6) acknowledged that he would suggest lowering the Items and Companies Tax (GST) on handicrafts and handloom merchandise to help the sector in Jammu and Kashmir.

The minister acknowledged that the matter was raised by a couple of delegations on the FTII: Merchants Conclave – 2025 in Srinagar.

Goyal suggested them to submit a proper request to the Finance Ministry and warranted them that efforts can be made to cut back the GST charge on this stuff from 12 per cent to five per cent.

This step would assist in the promotion of handicraft and handloom industries, notably in Jammu and Kashmir, the minister stated.

In a separate replace on social media platform X, Goyal acknowledged that he had held an in depth dialogue with the MSME Growth Discussion board of Jammu and Kashmir. They mentioned numerous strategies to strengthen native companies, together with steps to enhance the competitiveness of MSMEs, simplify enterprise processes, and higher join them to nationwide provide chains.

He additionally met with members of the Kashmir Chamber of Commerce and Trade to debate methods to empower native industries, promote financial development, and create a extra business-friendly atmosphere.

Moreover, the minister met with representatives of the Jammu-Kashmir Fruits and Vegetable Processing and Built-in Chilly Chain Affiliation (JKPICCA) in Srinagar. He stated they mentioned methods to help industrial growth within the chilly chain and agro-processing sectors, that are essential for strengthening the area’s agricultural financial system and rising exports.

Listed below are highlights of what the minister stated on the occasion:

• There’s a have to arrange packaging items that use trendy designs and applied sciences to advertise native merchandise akin to handicrafts, horticulture objects, pashmina shawls, and handlooms extra successfully.
• The Centre of Excellence for Packaging and Design will quickly be established in Jammu and Kashmir.
• Requested officers to work with the Indian Institute of Packaging to start a challenge targeted on enhancing the standard of packaging and design. An acceptable location for this centre is presently being recognized.
• Would converse with NTPC and the Photo voltaic Vitality Company to discover the potential for establishing photo voltaic lighting or energy technology amenities within the area. This initiative would assist producers label their items as eco-friendly, probably permitting them to earn higher costs in worldwide markets.
• There are discussions about establishing one other Centre of Excellence geared toward enhancing storage expertise, chilly chain infrastructure, and supporting new startups and entrepreneurs.