GST reforms a step in the right direction, says Jamshyd Godrej

Mumbai, Nov 26 Indian businesses should focus on creating more and more demand within the country to attract more investment, Godrej & Boyce Managing Director, Jamshyd Godrej, said on Wednesday.

Interacting with reporters on the sidelines of the CII Manufacturing Summit here, Godrej said that the investment, irrespective of its nature -- private or public -- follows one thing: that is 'Demand'. So, if demand exists, investors will put in their capital, he noted.

"Whether it is private or public investment, it is driven by demand. If demand exists, investment will naturally follow, so I wouldn’t worry about it," he said.

"I believe the key focus should be on creating demand," he added.

Backing the government's initiatives, like the recent GST reforms amid the tight global geo-political situation, the Godrej Group MD said that the GST rate cut was the right step, and the government needs to improve other aspects of ease of doing business as well.

"Reforms like the recent GST are a step in the right direction, but there are many other areas where ease of doing business can be further improved," he noted.

Earlier, M. Nagaraju, Secretary of the Department of Financial Services (DFS), participating at the event, said that India’s strong push toward financial inclusion and digital transformation has become one of the country’s biggest achievements in recent years.

Highlighting the progress, he said these reforms have reshaped India’s financial system and strengthened people’s trust in public institutions.

"Financial inclusion and digital transformation continue to be two of India’s most remarkable success stories," he said.

"Over the past decade, these reforms have reshaped the nation’s financial landscape and strengthened public trust in our institutions," Nagaraju added.

He noted that India’s Financial Inclusion Index has seen steady improvement. The index reached 67.0 in March 2025, rising from 64.2 the previous year, showing that more people are now part of the formal financial network.

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