Shri Mukesh D Ambani, Chairman and Managing Director of Reliance Industries Limited and Reliance Retail, India’s largest retailer, today warmly welcomed the Government of India’s second-generation reforms of the Goods and Service Tax (GST) rates.
Congratulating Prime Minister Shri Narendra Modi for delivering on his promise of a historic “Diwali Gift to the people of India”, Shri Mukesh D Ambani said, “The GST rationalisation is a progressive step towards making products and services more affordable for consumers, easing operational complexity of doing business, lowering inflation and driving consumption growth across the retail sector. This will serve as a big booster to India’s economic growth. With GDP growth rate having reached 7.8% in the first quarter of this financial year, the new reforms have the potential accelerate the economy even further, raising the growth rate closer to double digits.”
Ms Isha Ambani, Executive Director, Reliance Retail Ventures Limited, said, “The new GST regime as a transformative step, brings relief to household budgets and simplifies compliance for the industry, creating a unique win–win for both consumers and 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.”
The GST rationalisation marks a defining moment in India’s consumption journey. By reducing costs, keeping inflation in check, improving efficiency, and enabling greater scale, this will create opportunities for every stakeholder in the retail value chain including farmers, MSMEs, producers, suppliers, kiranas and the end-consumers.
Reliance Retail is proud to be at the forefront of this transformation, committed to passing on entire benefit of reform to India’s 1.4 billion people and helping shape a more inclusive, competitive, and affordable consumption economy.
Reliance Retail remains committed to bringing value, quality, and accessibility to millions of households.
