 NEW DELHI, Oct 10: The 7th Board Meeting of the National Traders Welfare Board (NTWB) was held at Vanijya Bhawan, New Delhi, under the chairmanship of Shri Sunil Singhi, Chairman, NTWB. The meeting was attended by Dr. Sanjay Bansal, Board Member, National Traders Welfare Board (Government of India), who actively participated in the proceedings and presented several key suggestions for the betterment of the business and trade community of Jammu & Kashmir.
In his welcome address, Shri Sanjeev, Joint Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Government of India, congratulated Chairman Shri Sunil Singhi on his reappointment for a second term. He also commended all board members, including Dr. Sanjay Bansal, for their consistent efforts to strengthen the trader community and promote ease of doing business across India.
Addressing the meeting, Sunil Singhi appreciated the recently implemented Next-GEN GST 2.0 reforms, effective from September 22, 2025, calling them a major step toward economic simplification and empowerment. He highlighted that the nationwide trader-led campaign "GST Bachhat Utsav" reflected gratitude toward the Prime Minister Narendra Modi for his transformative reforms benefiting both consumers and traders.
The Hon'ble Chairman shared that the new GST structure will make essential and consumer goods more affordable - with car buyers saving up to ?70,000, and GST rate cuts on stationery, textiles, footwear, and medicines offering 7-12% savings. Health and life insurance policies are now completely exempt, while GST on tractors has been reduced from 12-18% to 5%, saving nearly ?40,000. Overall, 375 items, including groceries, agricultural tools, textiles, medicines, and vehicles, have become more cost-effective under the revised framework.
A major highlight of the meeting was the 'Vocal for Local' initiative, reinforcing India's commitment to self-reliance and indigenous production. On this occasion, the poster "Garv Se Kaho, Ye Swadeshi Hai" was released to promote Indian-made products with pride. All members, including Dr. Sanjay Bansal, pledged to act as ambassadors of this campaign, particularly in regions like Jammu & Kashmir, to boost local industries and employment.
Concluding the meeting, Chairman Shri Sunil Singhi informed that all representations received from trade associations and members have been forwarded to relevant ministries for appropriate action. He invited further suggestions to expand the reach of government welfare schemes for the trading and retail sectors.
Dr. Sanjay Bansal stressed the importance of extending these schemes to Jammu & Kashmir's entrepreneurs and MSMEs, emphasizing that such initiatives would rebuild investor confidence, accelerate industrial development, and empower the region's traders to compete nationally. |
