GST Reforms Ignite Ladakh's Economic Revival

The sweeping GST rationalisation reforms that came into effect this Navratri bring significant benefits to Ladakh's economy, impacting various sectors from artisans and farmers to tourism. The reduction in GST across a range of products and services is expected to provide relief and rejuvenation to the region's diverse economic activities.

Particularly, the reduction of GST from 12% to 5% on local crafts such as Pashmina, Namda rugs, and wooden artifacts is poised to support over 10,000 artisans. This move not only lowers production costs but also strengthens the market competitiveness of these traditional handicrafts, laying the groundwork for potential export growth and income stability.

Additionally, the agricultural sector, involving over 6,000 families, will see enhanced earnings through lower GST on apricot farming and processing. Furthermore, the hospitality and tourism industry stands to gain from a reduced 5% GST on hotel tariffs up to ₹7,500, incentivizing more affordable travel and sustaining local livelihoods.