In its 56th meeting chaired by Union Finance Minister Nirmala Sitharaman, the Council reduced the GST rate on footwear priced up to Rs 2,500 per pair from 12% to 5%. The move is aimed at making shoes more affordable and stimulating demand, particularly in the mass market segment.
Bata India surged 6.75%, Liberty Shoes jumped 3.63%, Lehar Footwear advanced 2.27%, and Relaxo Footwear gained 1.52% following the announcement.