"And when your Lord proclaimed"—meaning: He informed you—"If you are grateful"—meaning: if you believe—"I will surely increase you" in blessings; "but if you deny, indeed, My punishment is severe" in the Hereafter.
﴿وَإِذ تَأذن رَبك﴾ أَي: أعلمكُم ﴿لَئِن شكرتم﴾ آمنتم ﴿لأزيدنكم﴾ فِي النِّعَمِ ﴿وَلَئِنْ كَفَرْتُمْ إِنَّ عَذَابي لشديد﴾ فِي الْآخِرَة.