Reliance Industries Limited Chairman Mukesh Ambani has extended wholehearted support to the Government of India’s second-generation Goods and Services Tax (GST) reforms, calling them a ‘Diwali Gift to the People of India’.
He also praised the move as a significant step towards a more consumer-friendly and efficient economy.
Speaking from Mumbai, Ambani said, “The GST rationalisation is a progressive step towards making products and services more affordable for consumers, simplifying the operational landscape for businesses, easing inflation, and fuelling consumption across the retail sector. It is a powerful catalyst for India’s economic growth.”
With India’s GDP growth already reaching 7.8% in the first quarter of FY 2025, he added that the new reforms could further accelerate the economy towards double-digit growth in the near future.
Consumers to Benefit Immediately
Echoing this sentiment, Isha Ambani, Executive Director of Reliance Retail Ventures Limited, affirmed the company’s commitment to consumers.
“Reliance Retail will pass on the full benefit of reduced GST rates to consumers from Day 1, across all consumption categories,” she announced.
Further Mukesh Ambani highlighted the dual impact of the reforms — easing household budgets while simplifying tax compliance for businesses.
“It’s a unique win-win scenario. Our promise is simple: whenever costs fall, the customer gains,” she said.
Retail Sector to Witness Widespread Gains
The GST rationalisation marks a landmark moment in India’s retail and consumption journey.
By lowering costs, stabilising inflation, and simplifying compliance, the reform benefits every player in the value chain — from farmers and MSMEs to producers, suppliers, kiranas, and end-users.
Moreover, Reliance Retail, India’s largest retailer, expressed pride in playing a leading role in implementing the reforms.
“We are committed to ensuring that India’s 1.4 billion people benefit directly from this move, making consumption more inclusive, competitive, and affordable,” said Ambani.
As the nation’s consumption engine continues to grow, Reliance Retail reaffirmed its mission to deliver value, accessibility, and quality to millions of households.
“This reform reflects the government’s strong intent to strengthen consumer welfare and improve ease of doing business,” Ambani concluded. “Reliance will continue to support these reforms to help realise the vision of a truly digital and consumption-driven India.”
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