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Of the total sales of around 6,75,000 cases (of nine litres each) of single malts in India last year, around 3,45,000 cases were retailed by Indian-origin makers, while the remaining 3,30,000 were by Scottish and others. ....
Indian-distilled single malt whiskey is giving tough competition to popular Scottish brands in India s whiskey market. Indian single malt brands have seen significant growth, with sales increasing by 2.4% in 2022. The climate in India allows whiskey to mature faster, but international standards require a three-year maturity period. Indian makers argue that they would lose more than one-third of the whiskey due to evaporation and heat. Indian brands face hurdles related to manufacturing capacity, distribution, and advertising restrictions. ....
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. ....
ET Cons. Products NEWS Powered by Liquor apex body CIABC objects reducing basic customs duty on imported spirits before trade talks with UK SECTIONS Liquor apex body CIABC objects reducing basic customs duty on imported spirits before trade talks with UKBy Share Synopsis “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. ....