Diageo India's Spirits Sales Set for Boost with India-UK FTA

Diageo India's United Spirits Ltd anticipates reduced consumer prices for imported liquor due to the India-UK free trade agreement. Duties on UK whisky and gin will drop from 150% to 75%, benefiting consumers and boosting volume growth. The trade pact opens up opportunities in their global portfolio.

United Spirits Ltd, part of Diageo, is preparing for a price reduction in imported liquors in India, projected to increase alongside volume growth, following the India-UK free trade agreement, top executives shared in a recent investor call.

Diageo India's Managing Director Praveen Someshwar and CFO Pradeep Jain confirmed that reduced duties from 150% to 75% will lead to consumer price cuts. The company plans to extend these savings to customers.

The agreement marks a notable development, slashing duties on Scotch whisky and facilitating opportunities within Diageo's global portfolio, enhancing consumer reach and potentially boosting the company's presence in India's spirits market.