Game-Changer: India-UK Trade Pact Slashes Prices on Imported Liquor

Pernod Ricard India announces that the India-UK free trade agreement will lower import duties on Scotch whisky, resulting in reduced retail prices. The company highlights improved access to premium brands while noting minimal effects on the pricing of domestic liquors. State governments will continue to control retail prices.

Pernod Ricard India, a leading name in the spirits industry, revealed on Wednesday that the recent India-UK free trade agreement will substantially reduce prices of imported liquors. This move is set to benefit Indian consumers by decreasing the retail prices of premium Scotch whiskies across most states, a spokesperson reported.

Under this agreement, announced earlier this month, India will see a phased reduction in duties on British whisky and gin—from 150% to 75%, and eventually to 40% over ten years. Pernod Ricard India, a subsidiary of the French company Pernod Ricard, anticipates the deal will grant greater access to high-end alcohol options for consumers.

Despite these changes, the company expects little impact on the prices of India Made Foreign Liquor (IMFL), as these are priced significantly lower. While states maintain control over retail prices due to varying import duties, Pernod Ricard India and other players warmly welcome the expected market growth.

(With inputs from agencies.)