Delhi lockdown triggers another panic buying
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Grocery products makers said packs were flying off shelves in the capital, similar to what happened before the lockdown was imposed in Maharashtra earlier this month, and there were serpentine queues in front of liquor shops at various high streets and standalone small outlets.
ANI
People in Delhi on Monday thronged shops to stock up everything from liquor to packaged foods such as biscuits, noodles, packaged rice and edible oils, to hygiene and sanitising products ahead of a week-long lockdown from 10 pm.
Grocery products makers said packs were flying off shelves in the capital, similar to what happened before the lockdown was imposed in Maharashtra earlier this month, and there were serpentine queues in front of liquor shops at various high streets and standalone small outlets.
Covid: Arvind Kejriwal announces curfew in Delhi amid surge
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Crowds seen at markets, liquor stores in panic buying spree
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Amid reports of the UK mounting pressure on the Indian government for massive tariff concessions on imports of Scotch whiskey in the free trade agreement negotiations, the Confederation of Indian Alcoholic Beverage Companies (CIABC) has strongly objected to any plans to slash the Basic Customs Duty (BCD). The CIABC has said that since the imports are already dominating the Indian market, any reduction in the BCD will make matters worse and squeeze Indian products totally out. The balance of trade in alcoholic beverages is highly skewed in favour of the UK and any reduction in BCD will further worsen it, said CIABC Director General Vinod Giri.
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Liquor apex body CIABC objects reducing basic customs duty on imported spirits before trade talks with UK
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Liquor apex body CIABC objects reducing basic customs duty on imported spirits before trade talks with UKBy
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“India exports just Rs 5 crore worth of alcoholic beverages annually to UK against an import of Rs 1300 crores. Exports to UK constitute only 0.2% of India’s total exports of alcoholic beverages whereas imports from UK are 24% of India’s total import of alcoholic beverages,” said Vinod Giri, director general of CIABC.
Agencies
The CIABC has asked the government to urge UK to remove non-tariff barriers to allow easy export of IMFL.