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ITC's Sanjiv Puri calls GST reforms ‘historic’, sees boost for MSMEs and Indian brands
ITC Chairman Sanjiv Puri called India’s new GST reforms a “historic moment,” saying they will make products more affordable, boost consumption, support MSMEs, and strengthen the Swadeshi movement, aligning with the company’s focus on Indian brands and inclusive growth.
ITC Chairman and MD Sanjiv Puri (Image: LinkedIn)
ITC Ltd Chairman and Managing Director Sanjiv Puri on Monday hailed the rollout of India’s next-generation GST reforms as a “historic moment,” saying the move will make products more affordable, strengthen domestic industries, and accelerate consumption.
In a LinkedIn post, Puri welcomed Prime Minister Narendra Modi’s announcement of the simplified two-slab GST structure on the eve of Navratri, calling it “far-sighted and pathbreaking” and a step toward building a ‘Viksit Bharat’.
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Puri highlighted that the combined effect of the GST reforms and earlier income tax revisions has put an estimated Rs 2.5 lakh crore of savings in consumers’ hands, which he said will drive a “virtuous cycle of consumption, investment, higher incomes and employment.”
The ITC chief emphasized the reforms’ potential to simplify business operations for millions of value-chain stakeholders, particularly micro, small and medium enterprises, cottage industries and local manufacturers. He also linked the initiative to strengthening the “Swadeshi movement” by supporting the growth of high-quality Indian products.
“At ITC, the credo of ‘Nation First: Sab Saath Badhein’ inspires us to build a future-ready portfolio of Proudly Indian Brands, supported by over 200 factories and 7,500 MSMEs,” Puri wrote, noting that the reforms align with the company’s long-term strategy of integrating social and environmental considerations into business decisions.
He also underlined the principle of “compassionate capitalism,” stressing that enterprises should place people and the planet at the core of their strategies while leveraging opportunities created by policy reforms.
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