Affordable sanitation: Industry advocates for GST revisions in upcoming Union Budget
The Indian sanitaryware sector is projected to reach a market valuation of approximately $948.5 million by 2025, growing at a CAGR of 7.9 per cent from 2024 to 2029
Sanitaryware players expect the government to focus on rationalising GST rates on sanitaryware products to make them more accessible and encourage sustainable construction practices through policy measures in the Union budget for the next fiscal.
The Union Government is set to present the FY 2025-26 budget on February 1. The industry is of the view that such measures will not only benefit the sector but also align with India's environmental goals. The upcoming Union Budget presents an opportunity to strengthen these sectors through thoughtful reforms and investments.
By addressing accessibility, sustainability, and infrastructure needs, we can collectively enhance living standards and contribute to India's long-term economic progress the board, Priya Rustogi, Leader India & Subcon, Lixil Water Technology (LWT) IMEA said. The industry expects that the government will focus on rationalising GST rates on sanitary ware products to make them more accessible, Rastogi said.
Industry players stated renewed focus on domestic consumption and international trade could stimulate various sectors, including real estate and construction, which are essential for driving demand in industries like sanitaryware. Akshat Seth, MD & CEO of HIL Limited said that government support for initiatives encouraging sustainable building solutions and powering up popular schemes such as Jal Jeevan Mission & PM Avaas Yojana can help create employment, improve health & sanitation conditions while providing affordable housing and essential infrastructure to the masses.
The Indian sanitaryware sector is projected to reach a market valuation of approximately $948.5 million by 2025, growing at a CAGR of 7.9 per cent from 2024 to 2029. Rapid urbanization and infrastructure development, Changing Consumer Preferences and increased hygiene awareness and technological advancement are major boosters for the sanitaryware sector in India, according to Pranav Desai, Head of Innovations, at HIL Limited.
Manufacturers are also innovating with sustainable materials, product durability, and technologies to meet the evolving demands of consumers. From water-saving technology to sustainably sourced raw materials, brands are actively advancing their efforts toward a climate-positive future, Rustogi said.
The demand for eco-friendly yet stylish products is driven by Millennials' and Gen Z's evolving preferences. As a result, the sanitary ware segment is rapidly evolving to become more sustainable and also contribute to India's Net Zero 2070 goals, Rustogi added. Pranav Desai said that Birla Aerocon Panels, made with eco-friendly fibre-reinforced cement and lightweight concrete, provide a sustainable, ready-to-install solutions that contribute not only to reducing environmental impact but also to enhancing aesthetic appeal and functionality.
(Except for the headline, nothing has been changed by All India News Network in the PTI copy.)
