Mukesh Ambani hails GST reforms as catalyst for double-digit growth

THEBUSINESSBYTES BUREAU

MUMBAI, SEPTEMBER 4, 2025

Mukesh D. Ambani, Chairman and Managing Director of Reliance Industries Limited and Reliance Retail, India’s largest retailer, today extended a warm welcome to the Government of India’s second-generation reforms of the Goods and Services Tax (GST) rates.

Congratulating Prime Minister Shri Narendra Modi for delivering on his promise of a historic “Diwali Gift to the people of India,” Mukesh D. Ambani said, “The GST rationalisation is a progressive step towards making products and services more affordable for consumers, easing the operational complexities of doing business, reducing inflationary pressures, and driving consumption growth across the retail sector. This reform will act as a powerful catalyst for India’s economic momentum. With the GDP growth rate already at 7.8% in the first quarter of this financial year, the new reforms hold the potential to propel the economy closer to double-digit growth.”

Isha Ambani, Executive Director of Reliance Retail Ventures Limited, described the reform as a landmark measure that will have a deep impact on households as well as businesses. She said, “The new GST regime is a transformative step that brings relief to household budgets while simplifying compliance for industry. It creates a unique win–win for both consumers and businesses. Reliance Retail is committed to passing on the entire benefit of the new GST regime to customers from Day 1 across all its consumption baskets.”

Emphasizing the company’s pledge, Ambani added, “The GST reforms reflect the Government’s clear intent to enhance ease of doing business and promote consumer welfare. Reliance Retail is fully committed to ensuring that the full benefit of this reform reaches our customers transparently and without delay. Our principle is straightforward: whenever costs go down, our customers must experience the savings directly in their wallets.”

The GST rationalisation marks a defining moment in India’s consumption journey. By reducing costs, stabilising inflation, improving efficiency, and enabling larger scale, the reform is set to unlock opportunities for every stakeholder in the retail value chain — from farmers, MSMEs, producers, suppliers, and kiranas, to the end-consumers.

Reliance Retail expressed pride in being at the forefront of this transformation, reiterating its commitment to delivering the entire benefit of the reforms to India’s 1.4 billion people and contributing to the creation of a more inclusive, competitive, and affordable consumption economy.

As India’s consumption story continues to expand, this development further strengthens consumer confidence. Reliance Retail reaffirmed its dedication to bringing value, quality, and accessibility to millions of households, reinforcing its role as a trusted partner in India’s growth journey.