GST revenue drops in 20 states; PM Modi urges exporters to use trade agreements

October 2025 GST collections declined in 20 Indian states, reflecting regional economic pressures and lower consumption in certain sectors. Prime Minister Narendra Modi encouraged exporters to leverage existing free trade agreements, especially amid ongoing US tariff measures, to sustain revenue growth and market diversification. Economists noted that while short-term revenue dips may occur, strategic trade policies and enhanced market access can offset domestic revenue shortfalls. The Finance Ministry continues to monitor GST inflows closely and is assessing measures to support exporters, stabilize state revenues, and maintain economic momentum in the face of external challenges.