Industry bodies exuded confidence that GST rollout would spur economic growth and make Indian products competitive in the domestic and international markets. FICCI said that the biggest advantage from the consumer point of view would be in terms of a reduction in the overall tax burden on goods, which is currently estimated at 25 to 30 per cent.Assocham is in favour of a standard GST rate below 20 percent. Assocham Secretary General D S Rawat said that a large part of India Inc wants to keep the rate low. He said if rate will be higher than 20 percent it will be counterproductive for industry and lead to inflation, especially on the side of services. Mr Rawat underlined that no tax reform can succeed unless adequate revenue generation is assured to both the Centre and states .