India’s GST 2.0 reform introduces a simplified two-rate structure — 5% for essentials and 18% for aspirational goods, with luxury/sin taxed at 40%. The move aims to boost consumption, ease compliance, and correct duty distortions. Analysts expect benefits for FMCG, cement, insurance, healthcare, and agriculture, alongside stronger private capex, improved earnings momentum, and potential GDP uplift of 0.5%.