PM Modi inaugurates UP International Trade Show, promises further GST reforms

Prime Minister Narendra Modi inaugurated the Uttar Pradesh International Trade Show (UPITS) in Greater Noida on Thursday.

The event will run from September 25 to September 29 at the India Expo Centre and Mart, with participation from craftsmen, entrepreneurs and industrial houses from across Uttar Pradesh and the country.

Addressing the gathering, Modi said reforms in the Goods and Services Tax (GST) are a continuous process and will reduce the tax burden further as the economy grows stronger.

“We are not going to stop here… As the economy strengthens further, the tax burden will keep going down… With countrymen’s blessings, reforms in GST will continue,” the Prime Minister said.

He said structural reforms in GST will help India’s growth and increase savings for people. Modi recalled the implementation of GST in 2017 and said further reforms were introduced this September.

Highlighting government initiatives, he pointed to the exemption of income tax for individuals earning up to Rs 12 lakh annually and the GST 2.0 reforms, which he said will result in more savings.

The Prime Minister said India is developing a vibrant defence sector, with every component carrying the mark of ‘Made in India.’ He said production of AK-203 rifles will soon begin in a factory set up in Uttar Pradesh in collaboration with Russia.

Modi also called for greater investment in research and innovation and said every product that can be made in India should be produced domestically. Despite global disruptions and uncertainty, he said India continues to be an attractive destination for investments.

Uttar Pradesh Chief Minister Yogi Adityanath described UPITS as a global platform for entrepreneurs, manufacturers and exporters across multiple sectors, including IT/ITES, MSMEs, start-ups, education, agriculture, health, tourism, culture, energy and One District One Product (ODOP).

(With inputs from agencies)