India, UK bring free trade agreement into force
The India-UK free trade agreement will enter into force on July 15 and reduces duties on UK whisky and gin from 150% to 75%, and to 40% in the tenth year. Industry groups CIABC and ISWAI welcomed the pact as a boost to bilateral trade, premiumisation and the spirits value chain, while CIABC urged states to withdraw concessions such as lower brand registration fees and reduced excise duties for bottled-in-origin brands. ISWAI noted imported spirits are about 2.5% of India’s 400 million case market and that 79% of Scotch imports arrive in bulk for local bottling.
India cuts duty on UK whisky and gin from 150% to 75%
Context
India and the UK signed the comprehensive economic and trade agreement last year. The governments agreed staged tariff cuts on whisky and gin. Industry groups now expect shifts in import volumes and state policy choices on BIO concessions.
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