7th Board Meeting of the National Traders’ Welfare Board held in New Delhi

Ministry of Commerce & Industry 7th Board Meeting of the National Traders’ Welfare Board held in New Delhi ‘Vocal for Local’ Initiative Highlighted at NTWB Meeting; Poster ‘Garv Se Kaho, Ye Swadeshi Hai’ Released to Promote Indian-Made Products Posted On: 09 OCT 2025 7:24PM by PIB Delhi The 7th meeting of the National Traders’ Welfare Board (NTWB) was convened at Vanijya Bhawan, New Delhi, today under the chairmanship of Chairman, NTWB, Shri Sunil J. Singhi. In his welcome address, Joint Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Shri Sanjiv, extended greetings to Chairman, NTWB, Shri Sunil J. Singhi, on assuming his second term as Chairman of the Board. He also congratulated the Board members and appreciated their continued commitment towards advancing the interests of the trading community. Addressing the gathering, Joint Secretary, DPIIT, Shri Sanjiv, underscored the pivotal role of the retail trade sector in the Indian economy and called upon the Board members to provide inclusive and practical suggestions for the formulation of the National Retail Trade Policy, with a focus on wider participation from grassroots-level traders. A key focus of the meeting was the ‘Vocal for Local’ initiative aimed at strengthening indigenous industries and promoting locally manufactured goods. On the occasion, a poster titled ‘Garv Se Kaho, Ye Swadeshi Hai’ was released, reflecting the Prime Minister’s call to proudly promote Indian-made products. All members pledged to serve as ambassadors of the campaign to ensure its wider outreach across the country. In his address, Chairman, NTWB, Shri Sunil J. Singhi, appreciated the recently implemented Next-Gen GST Reforms, which came into effect on 22nd September 2025. He highlighted that the nationwide traders-led campaign, celebrated as the ‘GST Bachat Utsav’, reflects the gratitude of the trading community towards Prime Minister, Shri Narendra Modi, for the transformative GST reforms that have generated substantial benefits and savings for both consumers and traders.The Chairman noted that the new GST reforms will make a wide range of essential and consumer items more affordable. Small car buyers could save around ₹70,000, while reductions in GST on stationery, clothing, footwear, and medicines are expected to yield savings of 7–12%. Health and life insurance policies have been fully exempted, offering up to 18% savings, and the GST rate on tractors has been reduced from 12–18% to 5%, resulting in nearly ₹40,000 in savings. In total, 375 items, including groceries, agri-equipment, clothing, medicines, and automobiles, have become more affordable under the new GST regime. Chairman, NTWB, Shri Sunil J. Singhi, reiterated the Government’s commitment to fostering a conducive business ecosystem through simplification of procedures, reduction in compliance burden, financial support, and infrastructure enhancement. The Chairman further informed that representations received from trade associations and members have been referred to the concerned Ministries and Departments for appropriate action. He also invited further suggestions to enhance awareness and access to government welfare schemes for the retail and trading sectors. *** Abhishek Dayal/ Abhijith Narayanan/ Ishita Biswas (Release ID: 2176986)