Mukesh Ambani welcomes India’s Second-Generation GST Reforms; Calls them a “Big Booster to Consumption-driven Growth”; Says: “GST rationalisation will benefit consumers with lower prices, and simplify compliance”

Ms Isha Ambani says: “Reliance Retail commits to passing benefits of
lower GST rates to consumers from Day 1”
Mumbai, September 4, 2025:  Mukesh D Ambani, Chairman and Managing Director
of Reliance Industries Limited and Reliance Retail, India’s largest retailer, today warmly
welcomed the Government of India’s second-generation reforms of the Goods and Service
Tax (GST) rates.

Congratulating Prime Minister 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 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.”

Ms 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.”

Ms 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 GST rationalisation marks a defining moment in India’s consumption journey. By
reducing costs, keeping inflation in check, improving efficiency, and enabling greater scale,
this will create opportunities for every stakeholder in the retail value chain including farmers,
MSMEs, producers, suppliers, kiranas and the 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.

As India’s consumption story continues to grow, this development strengthens consumer
confidence. Reliance Retail remains committed to bringing value, quality, and accessibility to
millions of households