Reliance Retail will be ensuring that all its customers get the full benefit of the new GST changes from the very first day, Mukesh Ambani said on Thursday. The company pledged that whenever costs go down due to tax reforms, shoppers will see the difference directly in their spending. The aim, he said, is to make sure the savings are passed on quickly and transparently.
GST 2.0: ‘Intent to improve ease of doing business and promote consumer welfare,’ says Mukesh Ambani
Ambani added that the new GST slabs, which will take effect from September 22, are a positive step for both businesses and consumers. He explained that the changes will help make products and services more affordable, reduce the complexity of doing business, lower inflation, and encourage more spending.
According to him, this could provide a strong push to India’s economy, which already grew 7.8% in the first quarter of this financial year. With these reforms, he said that he believes growth could move closer to double digits.
A win-win for consumers and industry
Isha Ambani, Executive Director of Reliance Retail Ventures Limited, described the GST reforms as transformative. She noted that the new system will ease pressure on household budgets while also simplifying compliance for businesses. In her view, this creates a rare win-win situation that benefits both consumers and the retail sector.
According to the company’s release, the new GST changes are being seen as an important step in India’s consumption story. The company said that lowering costs, controlling inflation, improving efficiency, and allowing businesses to grow bigger, the reform is expected to benefit everyone in the retail chain, from farmers and small businesses to suppliers, shopkeepers, and customers.
Reliance Retail said it will pass on the full benefit of the reform to India’s 1.4 billion people. The company added that its goal is to help build a fairer, more competitive, and more affordable consumer economy.