Cheers to Change: Indian-EU Wine Trade Revolution

The Indian-EU free trade agreement will reduce tariffs on European wines entering India from 150% to 20% for premium wines, while eliminating duties for Indian wines in the EU market. This agreement, impacting the alcoholic beverage sector, aims to enhance trade, boost tourism, and increase consumer access to premium brands.

In a landmark move, European wines are poised to enter the Indian market at substantially lower prices, following tariff concessions under a newly finalized bilateral free trade agreement. Indian officials confirmed that duties on premium EU wines will drop from an imposing 150% to a mere 20%.

This agreement, nearly 18 years in the making, also offers Indian wines duty-free access to EU nations. Such arrangements aim to cater to the demand from the burgeoning Indian diaspora while opening new market opportunities abroad.

Industry body ISWAI hailed the agreement as a strategic win for both markets, promising improved access to premium brands and a potential boom in related sectors like tourism and hospitality.

(With inputs from agencies.)