After FTA, how long will the prices of Scotch whiskey be reduced in India, know how long you will have to wait?

India-uk free trade deal: After India’s free trade final with Britain, the tariff on the import of Scotch whiskey will be reduced to half i.e. 75 percent. Despite this, the prices of Brands of Brands like Glenalivate, Black Label, Glenmorengi and Chivas Regal will not be lower yet. These changes will be applicable only after being passed in the British Parliament.

How much will prices be reduced?

According to the Times of India report, officials associated with the industry say that even the prices will be reduced, it will be within the scope of 8-10 percent because the import duty in Scotch’s cousin is only 15-20 percent. The agreement by the British Parliament is expected to be passed by next year. Only after approval, the tariff on imports will be reduced to 75 percent and in the next ten years it will be reduced by 40 percent.

Liquor companies welcomed the deal

Giants making alcohol like Diazio have also welcomed this decision. With this, alcohol making companies in India are also happy, who use Scottish Spirit to mix in their local brands.

Praveen Someshwar, MD and CEO of Diazio India, said, “We appreciate the India and the British Government to formalize this deal. This will promote bilateral trading and positive impact on the availability of premium scotch whiskey in India, which will promote development and increase options for Indian consumers. ‘

Sanjeet Padhi, CEO of International Spirits and Wines Association of India (ISWAI), said that the deal will get more balanced and equal business atmosphere than before. This is because there is no charge on the export of Britain’s liquor from India.

However, people associated with the industry say that prices will not be less than 10 percent. An official said, the stake of custom duty in MRP’s overall structure barely sits 15-20 percent. The rest includes tax and distribution margin imposed by the state government, so only 8-10 percent will be reduced.

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