Union Commerce and Industry Minister Piyush Goyal said the nutraceuticals sector will be among the biggest beneficiaries of the GST reforms announced on Wednesday, calling them “transformational” for businesses and consumers alike. Addressing the Bharat Nutraverse Expo 2025, he stressed that lower GST rates will drive demand, expand sales, and create new opportunities while the benefits must be fully passed on to consumers.

Goyal thanked Prime Minister Narendra Modi for delivering a “festival gift” through sweeping GST changes and urged the industry to commit to both passing on savings and promoting Indian-made products. Highlighting India’s strong 7.8% GDP growth in Q1 despite global challenges, he reiterated the government’s vision of growing the economy from USD 4 trillion to USD 30 trillion by 2047 under the Viksit Bharat mission.

He underlined the nutraceutical industry’s role in building a fit and healthy India, supporting farmers, MSMEs, and preventive healthcare, while reaffirming Modi’s commitment to ensuring quality of life, education, and healthcare for every citizen. Goyal concluded with optimism that Bharat Nutraverse 2025 would mark the start of a promising future for the sector and India’s development journey.