Bhubaneswar: The Confederation of Indian Industry (CII), Odisha State Council, has expressed its profound appreciation to the Hon’ble Prime Minister of India, Shri Narendra Modi, for spearheading landmark GST reforms.
India’s journey toward Viksit Bharat gained fresh momentum with the landmark decisions of the 56th GST Council meeting, which signal a strategic shift towards a simplified, affordable, and growth-oriented tax ecosystem. The rationalisation of the four-tier GST structure into a streamlined three-rate system 5% merit rate, 18% standard rate, and 40% de-merit rate alongside targeted rate reductions and process reforms, reflects a citizen- and enterprise-centric approach poised to catalyse consumption, strengthen MSME competitiveness, and reinforce inclusive growth.
Mr Sunil Gupta, Chairman of CII Odisha State Council and Chief Operating Officer of Vedanta Limited, Jharsuguda, lauded the government’s decision to reduce the GST on aluminium foil and cookware from 12% to 5%. He stated, this bold reform will significantly boost the aluminium industry, benefiting both manufacturers and consumers. Mr Gupta underscores the government’s commitment to fostering industrial growth and making essential commodities more affordable.
Echoing this sentiment, Mr G. Suresha, Vice Chairman of CII Odisha State Council and Chief Operating Officer – Odisha Assets Operation, AM/NS India, highlighted the positive impact on the steel sector. He remarked, “The GST regime has provided clarity and uniformity in the steel value chain. It has become a true enabler of India’s industrial and infrastructure ambitions.”
Mr Sudhi Ranjan Mishra, Head, Corporate Affairs, Paradeep Phosphates Ltd, extended his heartfelt gratitude to Prime Minister Modi for championing GST 2.0simplifying the tax structure to two slabs and delivering relief on essential goods. This landmark reform reflects a commitment to ease of living, inclusive growth, and support for farmers, MSMEs, and citizens across the board.
These reforms go far beyond rate cuts, delivering tangible benefits across sectors and social strata. Households will see lower costs on daily-use items and packaged foods, while exemptions on life and health insurance expand financial protection. Healthcare is strengthened through reduced GST on essential drugs and devices, and agriculture gains from lower rates on machinery and inputs. Labour-intensive industries and textiles benefit from duty corrections that boost competitiveness and employment. With institutional measures like the GST Appellate Tribunal and faster refunds, the reforms knit together affordability, equity, and efficiency laying a resilient foundation for India’s next phase of inclusive economic progress.
