MUMBAI– Mukesh Ambani, Chairman and Managing Director of Reliance Industries and Reliance Retail, on Thursday welcomed the government’s second-generation Goods and Services Tax (GST) reforms, calling them a “historic Diwali gift to the people of India.”
Ambani said the GST rationalisation would make products and services more affordable, reduce business complexities, help control inflation, and stimulate consumption growth.
“This will serve as a big booster to India’s economic growth. With GDP growth rate having reached 7.8 per cent in the first quarter of this financial year, the new reforms have the potential to accelerate the economy even further, raising the growth rate closer to double digits,” Ambani stated.
He described the move as a defining moment in India’s consumption journey, highlighting that it would reduce costs, improve efficiency, and open up opportunities for stakeholders across the retail value chain—including farmers, MSMEs, producers, suppliers, kiranas, and end-consumers.
Isha Ambani, Executive Director of Reliance Retail Ventures, echoed the sentiment, calling the reforms “a transformative step” that would ease household budgets while simplifying compliance for businesses.
“Reliance Retail is committed to pass on the entire benefit of the new GST regime to customers from Day 1 across all its consumption baskets,” she said. “Our pledge is simple: whenever costs go down, our customers must get the benefit in their wallets.”
Reliance Retail added that the company remains committed to ensuring the benefits of the reform reach India’s 1.4 billion people, supporting a more inclusive and affordable consumption economy. (Source: IANS)
