GST 2.0 reforms not just a policy tweak, it makes daily life easier on pockets: Industry experts

NEW DELHI: The latest GST reforms, rolled out on Monday, are not just a routine policy change but a move that experts say will make daily life easier on the pocket. Industry leaders have welcomed GST 2.0, highlighting its impact on essential goods, healthcare, and the nutrition sector.

Amaresh Ojha, Co-founder & CEO of Trovex.ai, said the reduction in taxes on essential goods, services, and new technologies is more than just a policy tweak, it signals a clear intent from the government.

“It makes daily life a bit easier on the pocket, while also giving a push to homegrown manufacturing and traditional industries. At the same time, it opens doors for innovation, better healthcare, stronger education, and smoother mobility. Put together, these changes show that India wants a tax system that’s simpler, fairer, and focused on growth, with the country’s young generation right at the center of this journey,” Ojha said.

The healthcare sector is among the biggest beneficiaries of GST 2.0. Mithun Majumdar, CEO of 750AD Healthcare Pvt. Ltd., noted that reducing GST on most medicines and medical devices from 12-18 per cent to 5 per cent, making 33 life-saving drugs tax-free, and fully exempting life and health insurance premiums will ease the burden on patients.

“The government has taken a bold step toward ensuring affordable healthcare for all. These changes will guarantee wider access to essential care and reinforce India’s commitment to health equity. We urge that all stakeholders — manufacturers, hospitals, pharmacies, insurers — swiftly translate these policy shifts into real, visible relief at the last mile,” Majumdar said.

Suresh Garg, MD & Founder of Zeon Lifesciences Ltd., stressed the positive impact on the nutrition and wellness industry. “Now, with simpler and fairer rules, lower taxes, manufacturers and CDMO partners like Zeon Lifesciences can spend more time on research, building modern factories, and creating world-class products. It also makes health and nutrition more approachable and accessible for everyone”, he said.

Garg added that the government has shown remarkable vision in recognizing the nutraceutical industry as a driving force behind a “Healthy India, Wealthy India.”

According to experts, GST 2.0 marks a step toward a simpler and fairer tax system that balances growth with affordability. While businesses stand to benefit from faster expansion, consumers are expected to gain access to affordable products and services. (ANI)