GST reforms were long overdue, there were too many rates, says Jamshyd Godrej

Speaking on the sidelines of the Visionary Leaders for Manufacturing (VLFM) program, a flagship Indo-Japan program at Mumbai, he recalled the challenges that came with the introduction of GST amid political compulsions with too many rates, but welcomed the progress made since then.

"On GST? Yes, yes, of course. I think it's long overdue. I think we all said, you know, when GST was announced that there were too many rates, there were political compulsions, et cetera, but whatever it is, I think it's good that we are on the job now," he said.

Godrej, reflecting on the growth of the VLFM program, said it had a long history and had been shaped by international collaboration, especially with Japan. He thanked Professor Shoji Shiba and the Japan International Cooperation Agency (JICA) for their continued support in nurturing the program in India.

"As you know, this program has a long history and we are very honored that Professor Shoji Shiba was able to be with us thanks to the support from JICA for so many years in India to be able to initiate and grow this program," he said, adding that the governments of India and Japan had worked on an MoU to strengthen the effort further.

Godrej stressed that resilience was essential in an age marked by "exponential disruption" and noted that the VLFM initiative had helped train around 1,300 senior managers so far.

"The resilience that we require to be able to thrive in this type of situation is something that JICA and the VLFM program and Shiba and all have focused on over the years," he said. "The VLFM program has incubated and supported many organizations and individuals who have benefited enormously from this."

Highlighting India's larger manufacturing goals, Godrej said the program was not just a CII initiative but a national mission to build leaders who can transform India into a global manufacturing hub.

Echoing the theme of resilience, JICA India's new Chief Representative, Takuro Takeuchi, said trust and relationships were vital in both international relations and business. "I'm very surprised why India's relationship with the US has become like this. Japan and India have a time-tested relationship. And also, the outside world is changing very much. But what I learned from this VLFM program is that there is always something fundamentally important, and also, there is no change even though the outside world is changing. In the age of geopolitics, trust is very difficult to keep in the international arena, and in the business world as well," he said. (ANI)