GST overhaul: Export status for contract manufacturing to boost supply-chain shifts to India. Comprehensive market analysis and insights regarding this update. GST reforms treating contract manufacturing for foreign principals as exports could boost India’s appeal as companies relocate parts of their supply chains. Expanded refunds covering input services and capital goods, faster 90% refunds and measures to release blocked tax credits are also expected to unlock working capital and support investment. Industry experts note that this development will have significant implications moving forward.