New Delhi, Sept. 5 -- The 56th meeting of the GST Council has approved a series of tax rationalisations aimed at strengthening India's textile and apparel industry.

The measures are expected to reduce costs, revive domestic demand, correct structural anomalies, and enhance global competitiveness.

The reforms address long-standing concerns within the value chain, from fibre to fashion, with an emphasis on affordability, employment generation, and export growth.

By easing tax burdens across segments, the changes are projected to stimulate consumption and support India's ambitious target of building a USD 350 billion textile and apparel market by 2030.

The rationalisation includes a 5 percent GST rate on readymade garments and made-ups p...