New Delhi: Union Minister Dr. Jitendra Singh on Tuesday said that the Central government’s decision to reduce the Goods and Services Tax (GST) on Pashmina products to 5 per cent has significantly enhanced the business potential for artisans and entrepreneurs in Jammu and Kashmir.
Speaking at the two-day exhibition “The Splendour of Kashmir” held in the national capital with the support of FICCI-FLO, Singh said the move has given a major boost to one of India’s oldest and most celebrated handicrafts.
“The decision by Prime Minister Narendra Modi’s government to reduce GST on Pashmina products to 5 per cent has not only revived a traditional craft of Jammu and Kashmir but also opened new business avenues for artisans and entrepreneurs,” he said.
Singh added that the tax reduction has introduced the younger generation to the exquisite artistry of Pashmina, inspiring many new entrepreneurs to take up this vocation.
During his interaction with the exhibition’s founder and curator, Varuna Anand, Singh was informed that sales of Pashmina products had surged significantly within three weeks of the new GST rates taking effect on September 22.
Praising Anand and her team, the Minister described the exhibition as a shining example of women-led entrepreneurship. He noted that under Prime Minister Modi’s leadership, the number of startups in India has grown from around 350 to over 1.7 lakh — with a large share of them being women-led ventures, including many from Tier-2 and Tier-3 cities.
Appreciating the intricate craftsmanship behind each Pashmina shawl, Singh lauded the months of meticulous work involved — from hand-spinning the fine yarn to the detailed embroidery that reflects Kashmir’s cultural heritage.
Anand explained that the reduction in GST from the earlier 12–22 per cent to 5 per cent has provided a major boost to the sector, helping artisans access wider markets and improve their livelihoods.
Singh said the initiative not only helps preserve India’s timeless craft traditions but also empowers women entrepreneurs. “This reflects the growing contribution of women in shaping India’s innovation and economic landscape,” he remarked.
Pashmina, known for its unmatched softness and warmth, is made from the fine undercoat of the Changthangi goat found at altitudes above 15,000 feet in Ladakh. Its fibres, measuring just 12 to 16 microns — finer than human hair — make it one of the most luxurious and lightweight wools in the world.
