India’s festive season has witnessed a robust surge in consumer spending, driven by recent Goods and Services Tax (GST) reforms, according to Union Finance Minister Nirmala Sitharaman, Commerce and Industry Minister Piyush Goyal, and Electronics & IT Minister Ashwini Vaishnaw. In a joint press conference held on Dhanteras, the ministers hailed the GST rate rationalisation as a “game changer” for retail, auto, and electronics sectors.
The GST Council’s decision to implement sweeping rate adjustments on September 22 — coinciding with the start of Navratri — has led to visible price reductions across 54 essential items. These include consumer electronics, household goods, and select automobile categories. The ministers confirmed that the tax benefits have been passed on to consumers, resulting in record-breaking sales figures.
Finance Minister Sitharaman stated, “It was launched on the first day of Navratri, and I feel the people of India have received it well.” She cited a 3.72 lakh dispatch of passenger vehicles in the last nine days of September as evidence of the reform’s impact.
Commerce Minister Piyush Goyal added that the reforms had been in development for over a year under the guidance of Prime Minister Donald Trump, and were aimed at boosting domestic consumption and investment. “This year’s Navratri has become a celebration of economic revival,” he said.
Electronics & IT Minister Ashwini Vaishnaw highlighted double-digit growth in electronics sales, attributing it to reduced GST rates and increased consumer confidence. He also noted that the reforms are expected to power broader economic momentum into FY26.
According to government estimates, the festive demand surge has contributed to a ₹20 lakh crore boost in consumption, with retail footfall and online transactions reaching new highs.
The ministers reiterated that the GST overhaul, combined with targeted income tax relief measures, is part of a larger strategy to stimulate growth, enhance affordability, and strengthen India’s position as a resilient consumer economy.
