India-UK Trade Deal Shakes Indian AlcoBev Industry

The India-UK trade deal has reduced import duties on British whisky and gin, causing concern among Indian alcoholic beverage industry players. They fear similar deals with other countries could harm the local market. However, foreign AlcoBev firms see the tariff cuts as beneficial for both India and the UK.

The Indian AlcoBev industry has voiced significant concerns over the recent India-UK trade agreement which slashes import duties on British whiskies and gin. The industry believes the government has overlooked their advice, predicting adverse impacts due to the duty reductions.

Under the deal, tariffs on whisky and gin will be halved from a hefty 150% to 75%, with a target to bring it down to 40% within a decade. The Confederation of Indian Alcoholic Beverages Company (CIABC) expressed worries about potential ripple effects in negotiations with other countries like the US.

Conversely, foreign AlcoBev giants, represented by the International Spirits and Wines Association of India (ISWAI), hailed the agreement. They claim the reduced tariffs are advantageous, offering Indian consumers better access to premium drinks and potentially boosting economic ties between India and the UK.

(With inputs from agencies.)