#GSTReforms #MukeshAmbani #IshaAmbani #RelianceRetail #GST2025 #ConsumptionEconomy #EaseOfDoingBusiness #RetailGrowth #IndiaEconomy #ConsumerFirst #AffordableIndia
Reliance Retail Commits to Passing on Full Benefits of Lower GST Rates to Consumers from Day One
Mumbai – In a strong endorsement of the Government of India’s landmark second-generation Goods and Services Tax (GST) reforms, Shri Mukesh D. Ambani, Chairman and Managing Director of Reliance Industries Limited (RIL) and Reliance Retail, lauded the rationalisation of GST rates as a historic reform that will accelerate India’s consumption-driven economic growth.
Calling it a “Diwali Gift to the people of India”, Shri Ambani congratulated Prime Minister Shri Narendra Modi and his government for taking a decisive step toward making India’s tax system simpler, fairer, and more consumer-friendly.
Mukesh Ambani: GST Reforms to Propel India Towards Double-Digit Growth
In his statement, Shri Ambani emphasized that the new GST structure would have a multiplier effect across the economy.
“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 to accelerate the economy even further, raising the growth rate closer to double digits.”
By reducing the number of tax slabs and simplifying compliance, the new GST regime is expected to boost formalisation, lower costs of goods and services, and improve consumer sentiment. For India’s $1 trillion consumption economy, this is a defining moment that could unlock stronger growth momentum.
Isha Ambani: Reliance Retail to Pass on Benefits to Consumers Immediately
Supporting Shri Ambani’s views, Ms. Isha Ambani, Executive Director of Reliance Retail Ventures Limited (RRVL), affirmed that the reforms represent a “win–win for both consumers and businesses.”
“The new GST regime as a transformative step brings relief to household budgets and simplifies compliance for the industry. 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.”
Ms. Ambani further highlighted the company’s commitment to transparency and consumer-first policies:
“The GST reforms reflect the Government’s clear intent to improve ease of doing business and promote consumer welfare. Reliance Retail is fully committed to ensuring that the entire benefit of this reform reaches our customers transparently and without any delay. Our pledge is simple: whenever costs go down, our customers must get the benefit in their wallets.”
This assurance places Reliance Retail, India’s largest retailer, at the forefront of implementing the GST benefits directly into consumer pricing.
Impact Across the Retail Value Chain
The GST reforms are expected to reshape the entire consumption ecosystem in India, benefiting not just consumers but also producers, suppliers, MSMEs, and kirana stores.
Key expected impacts include:
-
Lower Prices for Consumers: With reduced GST rates, essential and discretionary goods will become more affordable, easing household budgets.
-
Simplified Compliance for Businesses: The streamlined structure will reduce paperwork and complexities, making it easier for both large corporations and small businesses to operate.
-
Boost to Farmers and MSMEs: Lower taxation on goods and inputs will enhance margins for suppliers and producers, creating a positive ripple effect across the value chain.
-
Inflation Control: By rationalising tax rates, the government aims to keep inflation in check while maintaining steady economic growth.
-
Formalisation of Retail: A simpler GST regime will encourage more small businesses and kiranas to integrate into the formal economy.
Reliance Retail’s commitment to passing on benefits directly to consumers ensures that India’s 1.4 billion people will be the ultimate beneficiaries of these reforms.
Strengthening Consumer Confidence
At a time when India’s economy is showing robust growth, the GST rationalisation adds to consumer confidence, reinforcing India’s story as the world’s fastest-growing large economy.
Reliance Retail’s leadership in promptly translating reforms into consumer benefits will also set industry benchmarks for customer-centric practices, compelling other retailers to follow suit.
The development further underscores India’s move towards becoming a simplified, efficient, and inclusive consumption economy, driven by affordability, accessibility, and innovation in retail.
Conclusion
The endorsement of GST reforms by Shri Mukesh Ambani and Ms. Isha Ambani highlights the far-reaching implications of the government’s reform agenda. By simplifying India’s tax regime, reducing costs, and boosting consumption, the second-generation GST reforms are poised to redefine the future of retail and economic growth in India.
Reliance Retail, with its vast consumer base and nationwide footprint, has once again taken the lead in ensuring that reforms translate into real benefits for people at the grassroots level. This commitment not only strengthens consumer trust but also aligns with India’s broader vision of building a more competitive, transparent, and consumer-friendly economy.
Hashtags
#GSTReforms #MukeshAmbani #IshaAmbani #RelianceRetail #GST2025 #ConsumptionEconomy #EaseOfDoingBusiness #RetailGrowth #IndiaEconomy #ConsumerFirst #AffordableIndia #InclusiveGrowth #RetailLeadership #LowerGST #IndianEconomy
