India-UK FTA: nine months or three years… India and UK liquor companies lock horns over maturity age of whiskey
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Vinod Giri, director general of the Confederation of Indian Alcoholic Beverage Companies (CIABC), said that Scotland is colder than India. There is a loss of one to 1.5 percent of the wine from one barrel annually. The weather in India is hot and whiskey matures in nine months instead of three years. If we keep whiskey in the cask for a long time, there will be a loss of 10 to 12 per cent annually. That is, in three years, we suffer a loss of about 35 per cent from each barrel. This is a big loss and it will also affect the quality of our whisky. The conditions that Britain is imposing are not acceptable. We are importing from US, South America and Africa without any such condition.
how much is the import duty
CIABC includes Mohan Meakin (Old Monk Rum and Solan No1 Whisky), Radico Khaitan (8PM Whiskey and Rampur Single Malt), Tilaknagar Industries (Mansion House Gold Whiskey), Devans Modern Breweries (GianChand Whiskey) and Jagatjit Industries (Aristocrat Whiskey). . CIABC has submitted several representations to the Government of India in this regard. Giri said that Britain has made laws according to the conditions of its country. If they have any doubts about the maturity of the whisky, the labs there can check our quality.
Giri said the government has assured him that the views of Indian companies have been taken into account. But Britain is not ready to accept our plea. They are not ready to give market access. As far as FTA is concerned, Indian companies are demanding an import price of at least five dollars. UK companies are demanding reduction in import duty from 150% to 75%. But Indian companies are against it. Giri said that there should be a reduction in import duty but it should not be as per the wish of British companies. We want that it should be brought down to 50 per cent in 10 years.
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