Reliance welcomes GST reforms; Mukesh Ambani calls it “Diwali gift to the people of India”
Reliance added that as India’s consumption story expands, the reforms would strengthen consumer confidence while reinforcing its commitment to deliver value, quality, and accessibility to millions of households.
ADVERTISEMENT
Reliance Industries Limited (RIL) and Reliance Retail on Thursday welcomed the Government of India’s second-generation Goods and Services Tax (GST) reforms, calling them a landmark move for consumers and businesses alike.
Mukesh D. Ambani, Chairman and Managing Director of Reliance Industries, praised the reforms as a progressive step that would bring widespread economic benefits. Congratulating Prime Minister Narendra Modi, he 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.”
Calling the announcement a “Diwali gift to the people of India,” Ambani stressed that the reforms would simplify compliance while spurring consumption-driven growth.
Echoing his views, 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.”
Ambani added, “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 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.”
The company said the GST rationalisation would mark a defining moment in India’s consumption journey by reducing costs, containing inflation, and creating opportunities across the retail value chain—from farmers and MSMEs to kiranas and 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,” the company said in a statement.
Reliance added that as India’s consumption story expands, the reforms would strengthen consumer confidence while reinforcing its commitment to deliver value, quality, and accessibility to millions of households.
Reliance Industries Limited (RIL) is India’s largest private sector company, with a consolidated revenue of INR 10,71,174 crore (US$ 125.3 billion), cash profit of INR 1,46,917 crore (US$ 17.2 billion) and net profit of INR 81,309 crore (US$ 9.5 billion) for the year ended March 31, 2025. Reliance’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables (solar and hydrogen), retail, digital services, and media and entertainment.
