Andhra Pradesh anticipates significant economic benefits from the GST rate reductions that took effect on September 22, benefiting industries ranging from coastal fisheries to automotive manufacturing. The tax cuts lower consumer prices, reduce working capital requirements for small businesses, and strengthen export competitiveness across multiple sectors. State officials project widespread effects in fisheries, dairy production, automobiles, pharmaceuticals, medical devices, renewable energy, and handicrafts.
The fishing industry will see GST drop from 12 or 18 percent to 5 percent on fish oils, preserved products, gear, and equipment. Andhra Pradesh produces 41 percent of India's fish and ships more than 30 percent of the nation's seafood exports through Visakhapatnam Port to international markets. The dairy sector, ranked fourth nationally, will benefit from zero GST on UHT milk and paneer, with reduced rates on ghee, butter, and ice cream supporting 24 lakh farmers.
Auto manufacturers face lower taxes on three-wheelers, small cars, motorcycles, and components, helping more than 100 firms and 11,000 workers. Pharmaceutical companies gain from the eliminated of GST on 30 cancer drugs, and medical device makers benefit from reduced rates at the Visakhapatnam MedTech Zone.
The fishing industry will see GST drop from 12 or 18 percent to 5 percent on fish oils, preserved products, gear, and equipment. Andhra Pradesh produces 41 percent of India's fish and ships more than 30 percent of the nation's seafood exports through Visakhapatnam Port to international markets. The dairy sector, ranked fourth nationally, will benefit from zero GST on UHT milk and paneer, with reduced rates on ghee, butter, and ice cream supporting 24 lakh farmers.
Auto manufacturers face lower taxes on three-wheelers, small cars, motorcycles, and components, helping more than 100 firms and 11,000 workers. Pharmaceutical companies gain from the eliminated of GST on 30 cancer drugs, and medical device makers benefit from reduced rates at the Visakhapatnam MedTech Zone.
