Additional electronics consumption of Rs 20 lakh crore expected this year due to GST reforms: Vaishnaw – The Economic Times

Extra electronics consumption price Rs 20 lakh crore is predicted to happen this 12 months as a result of GST reforms rolled out by the federal government final month, Union Electronics and IT Minister Ashwini Vaishnaw mentioned on Saturday.

The minister mentioned that information from all retail chains reveals there have been 20-25% extra gross sales compared to final Navaratri and there are lots of such classes, like 85-inch TV the place shares had been utterly bought out.

“The rise in demand for electronics goods is straight impacting electronics manufacturing. Electronics manufacturing is now rising at a double-digit CAGR. It is vitally doubtless that the consumption will improve greater than 10% this 12 months, which implies, there’s a excessive risk of Rs 20 lakh crore further consumption in comparison with final 12 months,” Vaishnaw mentioned.

He was talking at a joint press convention with Finance Minister Nirmala Sitharaman and Commerce and Business Minister Piyush Goyal on financial savings as a result of GST reforms which got here into impact from September 22, 2025