Scotch whisky prices set to drop after India-UK trade deal. Details here
Scotch whisky lovers in India are about to get a pleasant surprise, as the Indian government has agreed to reduce the hefty import tariffs on the popular liquor. As part of the recently concluded India–UK Free Trade Agreement (FTA), the current 150% import duty on Scotch whisky will be slashed. Once the deal takes effect, the tariff will decrease to 75% and is expected to gradually fall to 40% over the next decade.
The reduction is expected to bring premium and mid-range Scotch whiskies within reach of a larger section of Indian consumers. A bottle that typically costs Rs 5,000 could soon be priced between Rs 3,500 and Rs 4,000 following the initial tariff cut, and may drop even further as the tariff continues to decline, depending on local taxes and distributor margins.
Mark Kent, the Chief Executive of the Scotch Whisky Association, described the FTA as a "once in a generation deal." He added, 'The reduction of the current 150% tariff on Scotch whisky will be transformational for the industry and has the potential to increase Scotch whisky exports to India by 1 billion over the next five years, creating 1,200 jobs across the UK."
The tariff reduction doesn't just promise lower prices; it also opens up the Indian market to a wider variety of Scotch brands, especially smaller, boutique distilleries that may not have previously had the resources to penetrate the market. With this change, consumers can expect an influx of new options, better quality, and possibly more promotional offerings, as UK-based brands aim to compete with local Indian whiskies.
Prime Ministers Narendra Modi of India and Keir Starmer of the UK jointly announced the FTA, which reflects a broader trade strategy aimed at doubling bilateral trade to $100 billion by 2030. UK officials estimate that reductions in Indian tariffs on British products—including whisky, cars, cosmetics, and medical devices—will save 400 million in the first year, with the figure expected to rise to 900 million over the next decade.
British officials see the whisky tariff reduction as just one of many 'wins' for the UK in a deal they believe will deliver substantial economic benefits and job growth year after year.
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