Happy news for lovers of Scotch Whiskey; Price to get cheaper in India

MUMBAI: There is a happy news for the lovers of Scotch Whiskey. There will be a drop in the price of Scotch Whiskey in the coming months. The reason for the decrease in price is the central government's decision to reduce the import duty on Scotch whisky of various companies. India has signed a free trade agreement with the UK. Presently, the duty on whisky imported from Scotland, Ireland and UK was 150 %. Now, with the signing of the new agreement, it will be reduced to 75 % and later to 40 %.

With a significant reduction in tax, the price will also decrease. The companies are trying to benefit consumers by changing the price due to the reduction in tax. With the reduction in duty, it will be enough to pay Rs 3500 to Rs 4000 for liquor that used to cost more than Rs 5000. The price is expected to decrease even more in the coming years.
With the reduction in tax to India, the import of whisky will increase in the coming years. This will lead to more brands from the UK coming to India. Scotch Whisky Association chief executive Mark Kent said that whisky imports to India will cross one billion in the next five years and create around 1,200 jobs in the UK.

Meantime, the new agreement, while beneficial for UK companies, is a cause for concern for Indian liquor companies. Many are concerned that imported liquor will overwhelm the Indian market. There is a concern that if whisky is available at a huge discount, no one will come after Indian brands. Indian liquor manufacturers are demanding that the government intervene in the matter and find a solution.