GST will change the way the world looks at India, says India Inc

Industry leaders today said the rollout of the Goods and Services Tax (GST) was a necessary move and there couldn't have been a better time than July 1 for the launch of the new tax regime.

At the India Today Midnight Conclave, Confederation of Indian Industry (CII)'s president Shobana Kamineni said India Inc believes that GST is a necessary move and will be for a greater good. "Expect traffic jams but it will smoothen down later," she said.

Industry leaders said GST is a big step forward for ease of business. It is a win-win situation for both the consumer and the industry despite a short-term pain for those who are not complaint.

"The biggest grouse against India was taxation and tax structure. This is a huge expectation. It changes the way the world is looking at India," CII Director General Chandrajit Banerjee said.