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UK whisky and gin tariffs drop in India, potentially boosting trade by $6.45B annually.
The India-UK Free Trade Agreement will reduce UK whisky and gin tariffs from 150% to 75% immediately, with further reductions to 40% over a decade.
This will modestly lower retail prices, as import duties currently only make up 10-15% of the total price.
The deal is expected to boost trade by $6.45 billion annually and attract $8.08 billion in investment.
Despite the tariff cuts, the impact on prices will be limited due to state taxes and other costs.
India is already the largest Scotch whisky market by volume, and the agreement aims to further integrate the UK spirits into the Indian market.
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Los aranceles del whisky y la ginebra del Reino Unido se reducen en la India, lo que podría impulsar el comercio en $ 6.45B anuales.