Import duty cuts on wine in FTAs could hurt domestic makers: CIABC

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Import duty cuts on wine in FTAs could hurt domestic makers: CIABC - Business Standard

Quick Summary:

Alcoholic beverage maker's body CIABC on Friday said any import duty cuts in future trade deals on wine could hurt the domestic makers, as concessional tariffs on imported spirit from the EU, US, Australia and New Zealand may flood the Indian market.

It added that the duty reduction agreed by India on Scotch whisky under the free trade agreement with the UK may impact the domestic premium category whisky brands due to the likely influx of lower-priced Scotch whiskies.

The Confederation of Indian Alcoholic Beverage Companies (CIABC) also suggested the government to impose a minimum import price clause to prevent inbound shipments of low-cost and low-quality bottled spirits, bulk and bottled wines.