February 7, 2024Anmol Nagpal

India greenlights Scotch whisky import

Indian negotiators proposed to allow Scotch whisky import in barrels and bottles, but will bargain for mobility and migration related issues.

Source: Shutterstock

The 14th and final round of discussions for the India-UK FTA, which started last month, is still on and India is hoping that FTA will fructify with positive commitments.

Source: Freepik

India and the UK have held 14 rounds of negotiations for the FTA, and both sides are keen to conclude the agreement soon.

Source: PTI

A delegation of high-ranking officials from the UK arrived in India on 22 January to discuss remaining aspects of the free-trade agreement negotiations.

Source: ANI

On the issue, a British High Commission spokesperson said, “The UK and India continue to work towards an ambitious trade deal."

Source: Unsplash

A majority of the issues in the proposed FTA between India and the UK are either finalized or at an advanced stage of talks.

Source: PTI/ Representational

“The FTA will become a tool of facilitation for both nations. Wait till February-end, there will be a positive development in India-UK FTA," the official said.

Source: Pexels

“We want the government to propose a tax reduction on bottled liquor from current 150% to 100% now and then to 50% over a period of 10 years, said Vinod Giri head of CIABC.

Source: Pixabay

In terms of sales’ value for Scotch whisky, India stands at fifth position in the world.

Source: Official website

As per industry data, sales of Scotch whisky in India increased by 93% to $340 million in 2022.

Source: Freepik

Scotch, however, accounts for just 2% of all whiskies consumed in India.

Source: Pixabay

The overall whisky market in the country is expected to cross $22 billion by 2027.

Source: Unsplash

The mobility issue has become a bone of contention for UK as ending free movement of people and taking back control of its borders were key factors leading to Brexit in 2016.

Source: Facebook