Scotch whisky gets cheaper in India after trade deal with US; check new prices
Under the India-UK agreement, the import tariff on British whisky was reduced to 75% from 150%, effectively cutting the rate by half. The tariff is scheduled to decline further to 40% over the next 10 years. However, the reduction in import duty does not result in a similar reduction in the final retail price.
India's Scotch whisky prices have decreased by 10-15% following the implementation of the India-UK free trade agreement, according to industry reports. Major Scotch whisky brands such as Diageo and Pernod Ricard have passed on lower import costs to consumers in key states like Maharashtra, Rajasthan, Goa, and Uttar Pradesh. The import tariff on British whisky was reduced from 150% to 75%, with the rate expected to further decline to 40% over the next decade.
However, the reduction in import duty does not lead to a proportional decrease in the final retail price, as other factors such as state excise duties, taxes, distribution expenses, and margins also contribute to the overall price. The price cuts mark the first significant move by the two largest Scotch producers to adjust consumer prices since the trade agreement came into effect on July 15, potentially signaling the extent to which savings from lower tariffs could be passed on to Indian whisky consumers.
Industry experts believe that the pricing differences, entry of new whiskies, and availability will be key factors shaping the competitive dynamics for Indian whisky markets, including Indian single malts.
Written by urgent.news from Times of India's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
