Shri Mukesh Ambani welcomes India’s Second-Generation GST Reforms; Calls them a “Big Booster to Consumption-driven Growth”

Reliance Industries Limited (RIL), India’s largest private sector company, along with its subsidiary Reliance Retail Limited, has welcomed the Government of India’s second-generation Goods and Services Tax (GST) reforms. The announcement came through a media release issued by the company, signed by Savithri Parekh, Company Secretary and Compliance Officer.

Shri Mukesh D Ambani, Chairman and Managing Director of Reliance Industries Limited and Reliance Retail, congratulated Prime Minister Shri Narendra Modi, calling the reforms a “historic Diwali gift to the people of India.” He added that the GST rationalisation would act as a “big booster to consumption-driven growth,” helping reduce inflation, simplify business operations, and drive retail consumption. According to Ambani, this progressive move could push India’s GDP growth rate—already at 7.8 per cent in the first quarter of the current financial year—closer to double digits.

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Ms. Isha Ambani, Executive Director, Reliance Retail Ventures Limited, described the reforms as a “transformative step” that eases household budgets and compliance burdens for the industry. She reaffirmed Reliance Retail’s commitment to pass on the full benefits of GST rate reductions to consumers from Day 1, across all consumption baskets. “Whenever costs go down, our customers must get the benefit in their wallets,” she said, stressing alignment with the government’s goal of boosting consumer welfare and improving ease of doing business.

The media release highlighted that GST rationalisation marks a defining milestone in India’s consumption journey. Lower costs, inflation control, and improved efficiency are expected to generate opportunities for every stakeholder in the retail ecosystem, including farmers, MSMEs, producers, suppliers, kiranas, and consumers. With this reform, Reliance Retail expects stronger consumer confidence and an inclusive push for India’s retail growth story.

As India continues its path of economic expansion, Reliance Retail expressed pride in playing a key role in shaping a more competitive and accessible consumption economy for 1.4 billion people. The company’s stance aligns with its broader business vision that spans across Large-Cap, Mid-Cap, and Small-Cap partnerships, and reinforces its position in India’s evolving market landscape.

Reliance Industries Limited is a major conglomerate in India, with diverse business interests spanning petrochemicals, refining, oil and gas, retail, telecommunications, and textiles. The company plays a significant role in India's economy and is known for its large-scale projects and investments across various sectors. . In the last month, the stock has jumped by 0.37 per cent while on a year-to-date basis it has gained 11.89 per cent. The stock price of Reliance Industries Limited has jumped over 21 per cent from its 52-week low.

Disclaimer: The article is for informational purposes only and not investment advice.