India will not offer duty concessions on British wines in the new Free Trade Agreement with the UK; the deal, announced on May 6, has limited import duty benefits for British beer. Dairy, apples, cheese, oats, animals, and vegetable oils are not part of the agreement. The FTA is still undergoing legal review and is slated for implementation within 15 months.
The India-UK FTA will reduce prices of British Scotch whiskey and cars in India. Conversely, it will decrease tariffs on Indian imports like garments and leather goods in the UK. India plans to progressively slash duty on UK whiskey and gin from 150% to 75% and eventually 40% by the 10th year; however, wines receive no duty benefits under this agreement.
Indian whiskey concerns over duty cuts for Scotch have been addressed; the reductions will roll out gradually over a decade with minimal impact on the local market due to low import levels. The FTA, in the works since 2022, is anticipated to be disclosed by August-September following legal scrutiny and subsequent signing and approval.
Sources News From Various Digital Platforms, Websites, Journalists, And Agencies.
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