Latest news with #BlackLabel
Time of India
6 days ago
- Business
- Time of India
India-UK trade deal sealed, but scotch prices to come down only by next year
NEW DELHI : Scotch prices — including brands like Glenlivet, Black Label, Glenmorangie, and Chivas Regal — won't drop just yet, despite the India-UK trade deal halving the steep 150% import duty. The agreement still awaits ratification by the UK Parliament before the changes come into effect. Even when they come down, the reduction in prices will be in the range of only 8-10% as the share of customs duty to cumulative retail price of scotch is only around 15-20%, industry officials told TOI. The reduction in duty on scotch had been a major ask of the UK govt during the negotiations for the Comprehensive Economic and Trade Agreement. The UK Parliament is likely to ratify the deal only by the middle of next year. Once approved, the customs duty will come down to 75%, and thereafter reduce to 40% over the next decade. Top international spirits makers such as Diageo welcomed the move, and even Indian makers – who source Scottish spirits for blending in their local brands – are upbeat. 'We laud the Indian and British govts for formalising this historic treaty which will boost bilateral trade and positively impact the accessibility of premium Scotch whisky in India, reigniting growth and increased choice for Indian consumers,' Praveen Someshwar, MD & CEO of Diageo India said. Sanjit Padhi, CEO ofInternational Spirits and Wines Association of India (ISWAI) said the agreement paves the way for a more balanced and equitable trade environment, particularly as Indian alcohol exports to the UK have zero import duties. However, industry officials say that despite halving of import duty, the actual reduction of consumer prices will not be more than 10%. 'The share of customs duty to the overall structure of MRP is hardly 15-20%, depending on the category. The rest comprises state govt taxes, and distribution margins. So actual consumer prices will come down by only 8-10%,' an official said. The reduction in import tariffs will also be a benefit for manufacturers of Indian Made Foreign Liquor (IMFL). Around 80% of the imported scotch is in bulk form, which is used for bottling in India and for blending by local whisky brands. Abhishek Khaitan, MD of Radico Khaitan, said the company sees significant 'strategic and cost advantages' due to the trade deal. 'We have estimated our scotch requirements valued at over Rs 250 crore in FY26, and this treaty represents a substantial opportunity for value creation… this agreement is a win-win; empowering Indian enterprises to elevate their global competitiveness while showcasing India's excellence and innovation on the world stage. ' Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
NDTV
6 days ago
- Business
- NDTV
How Much Cheaper Will Whiskey Be After India-UK Free Trade Deal: 10 Points
New Delhi: The India-UK Free Trade Agreement (FTA) will lead to a reduction in prices of scotch whiskey, but not to such an extent that it would reshape the market. The price cuts are highly dependent on the pricing mechanism of every state. Here's your 10-point cheat sheet on whiskey prices States may tweak ex-distellery prices and excise duty rates to maintain excise collections as they form a major part of states' revenue. Multinational companies may reduce billing prices by mid-high single digits for 6-12 months, then bring them back up. In the premium segment in which the prices start from Rs 3,500 per bottle, brands like Johnie Walker, Black Label, and Chivas REgal 12 Years may cost less by Rs 200-300 per bottle. In the standard segment, which is between Rs 1,700 and Rs 2,000 per bottle, brands like Red Label and Ballantine's may cost less by Rs 100-150. The tariff cuts will not be able to change market dynamics since the price difference with the next lower segment, i.e. bottled-in-India is not much. The brands in the bottled-in-India segment, which costs around Rs 1,500 per bottle, include Teachers, Black Dog, and Black and White. This is a category of whiskey that was created in India owing to high custom duties. The brands bottled locally use scotch imported in bulk in concentrated form and diluted and packaged in India using local material. Since tariffs have been slashed, production and bottling of these brands could move to the UK. In the UK, whiskey has better scale efficiency, automation in production, thereby offsetting production costs. "Most Indian whisky producers import Scotch whiskey to use for blending with domestic whiskies. Reduction in customs duty will help bottomlines of these Indian producers," said Vinod Giri, liquor trade expert and director general of Brewers Association of India. "Since these whiskies are mostly sub Rs 1,000 per bottle, their competitive price position will not be affected by any reduction in consumer prices of imported scotch," he said. Since the UK itself is not a major whiskey market, the gains to Indian manufacturers, whatever be the terms, is going to be very limited. Hence, stripped of all noise, all the UK-India FTA will do for the whiskey industry is to help the bottomlines of companies. Consumers should not expect to see much change. FTA will not dramatically reshape the Indian whiskey market, but will open new big business vistas for Indian producers, Mr Giri said.
Daily Mail
10-07-2025
- Entertainment
- Daily Mail
Cinnamon Toast Crunch launches new flavor and it will be divisive
Longtime Cinnamon Toast Crunch fans are divided by the brand's new cereal flavor - bacon. The General Mills brand collaborated with Hormel Black Label bacon on cereal that dropped on Walmart's website on Tuesday starting at $5.84 per box. But some loyal fans have shown no interest in purchasing the limited-time cereal and are questioning why the 'disgusting' product exists. 'I don't think I could do this one,' a fan admitted on an Instagram post. 'They doing too much ewww not spending a penny on this,' another person commented on a video. A few social media users admitted they tried the cereal and it did not meet their expectations. 'That bacon burned absolutely horribly because it's literally covered in sugar,' a commenter wrote. Other fans were furious - not because of the cereal brand's newest product - but because it was sold out, making them claim 'influencers got their hands on them' early. General Mills was inspired to collaborate with Hormel Foods after the company received positive reviews for its limited-time Cinnamon Toast Crunch flavored bacon last year. Both companies had the same goal with this cereal: Rewrite the rules of breakfast. 'Bringing these two iconic breakfast staples and irresistible flavors together gives our fans even more reason why they Must Cinnadust,' said Brandon Tyrrell, senior marketing manager at General Mills. 'After seeing the fan response to last year's collaboration, we knew we had to bring these two breakfast icons back together,' said Aly Sill, senior brand manager at Hormel Foods. 'We're shaking up the way bacon fits into daily routines, and we can't wait for consumers to experience it.' While the hate was intense on social media, several commenters also enjoyed it, and food blogger Snackolator enjoyed its subtle flavor and 'super smoky' smell. 'Wow these are so delicious I bet my kids would be all over it,' an Instagram user wrote. 'I'm not sure! But I'll always try one thing once!,' another fan responded. General Mills is famous for its unexpected collaborations General Mills has a history of surprising fans with unexpected collaborations. Social media users had mixed opinions after Jason and Travis Kelce teamed up with the company to release a new limited-time cereal. The cereal, a combination of Cinnamon Toast Crunch, Lucky Charms and Reese's Puffs, was described as a 'crime against nature' by one X user. Not only is the company known for its unique partnerships, but it also made headlines for quietly discontinuing Cheerios products. General Mills did not explain the discontinuation but told ABC News that it could be for reasons 'ranging from insufficient consumer demand to ingredients no longer available or other supply chain constraints.'
Time of India
08-07-2025
- Time of India
NDPL smuggling causes Rs 300 crore revenue loss to Telangana Exchequer
HYDERABAD: A thriving underground network of non-duty paid liquor (NDPL) smugglers is working in tandem with private event organisers, causing an estimated ₹300 crore annual loss to the state exchequer. A recent crackdown by the excise department has unravelled the scale, sophistication, and spread of this illegal trade, particularly within the GHMC limits. In the past three weeks alone, excise officials have stumbled upon multiple NDPL smuggling routes, primarily from Haryana, Goa, and Karnataka, where liquor taxes are significantly lower than in Telangana. Liquor meant exclusively for defence canteens and even customs duty-free bottles meant for inbound air passengers are being illegally diverted to high-paying clientele, often through private parties and event circuits in Hyderabad. On June 21, Patancheru excise officials intercepted a Mahindra XUV with a UP registration plate and seized 408 bottles of premium whisky brands-Chivas Regal, Black Label, Red Label, and Jameson. The vehicle was operated by two Hyderabad-based men, A Tikiya Naik and S Naveen Kumar, who admitted to sourcing the liquor from a wholesale store in Faridabad, Haryana, for ₹5 lakh. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad "The liquor was being brought in SUVs purchased cheaply in the national capital region. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Are you 18-79 with no funeral insurance? Talk to NZ Seniors today NZ Seniors Get Quote Undo The same vehicle, once used for smuggling, is later sold for profit in Hyderabad. With tax differences, liquor worth ₹5 lakh in Haryana fetches ₹15 lakh here. From a single run, they make over ₹10 lakh," said excise inspector Parameshwar Goud. On June 17, two ex-servicemen, Purushotham from Yapral and Siddaiah from Kowkoor, were caught at Malkajgiri with 37 bottles worth ₹75,000 sourced from a Ballari (Karnataka) defence canteen. A week earlier, 115 bottles of defence quota liquor worth ₹2.3 lakh were seized in Serilingampally. In most cases, the liquor was purchased in Karnataka, where defence canteen prices are much lower. "For instance, a Teacher's whisky bottle costs ₹800 in a Karnataka canteen, ₹1,600 in Telangana's defence outlet, and ₹2,200 in a retail store. The margins make smuggling highly profitable," explained an excise official. Smugglers are also ferrying high-end foreign liquor like Royal Salute, which costs ₹14,000 in Haryana but sells for ₹26,000 in Telangana, sometimes via trains or courier services. In Dec 2024, the excise department busted a customs duty-free liquor racket involving a police constable at RGIA, a home guard, two techies and others. The gang allegedly procured 41 bottles worth ₹15 lakh-mostly Royal Salute and Gold Label-using the passport and ticket copies of Gulf returnees in collusion with a duty-free shop worker at Hyderabad airport.
Geek Dad
02-07-2025
- Entertainment
- Geek Dad
Review – Resurrection Man: Quantum Karma #4
Resurrection Man: Quantum Karma #4 cover, via DC Comics. Ray: Ram V continues to take us deeper into the mystical side of the DCU than any other writer has in a long time. Mitch Shelley has completed his latest evolution as Resurrection Man, dying peacefully of old age – and as such, has evolved to be immune and above time itself. Now in the company of a mysterious cosmic being named Samsara, he has gained full awareness of his countless past lives. This allows him to discover his past – which casts new doubt on his original simple origin from the 1990s, and gives him ties to one of the DCU's greatest villains and his original crime that kicked off his reign. But it also opens his eyes to the ultimate betrayal he committed – turning on a woman who was the closest he had felt in centuries to a true love, and sabotaging her creation that could jeopardize the world. And it's exactly that creation that now comes into focus, as the truth behind Samsara's presence is revealed. The warriors. Via DC Comics. It's interesting that the main villain of the series so far – or so it seemed – doesn't really play a role in this issue, but a much bigger threat emerges. That keeps in touch with the non-linear nature of this story, which makes it feel unlike any other Black Label book. How often do you see a book that takes place not just over centuries but over millennia? As we head into the last act, it's clear that the true enemy Mitch Shelley is facing here is himself, or rather the parts of himself he had locked up for eons. And in that time, he's managed to accumulate many enemies – including some that he might need again now. The guest appearance at the end of the issue is fascinating, especially given that we last saw him in a very different Black Label series. This is quickly becoming one of my favorite DC works of Ram V, and is a similarly bold reinvention of the character as his take on Swamp Thing from a few years back. To find reviews of all the DC issues, visit DC This Week. Liked it? Take a second to support GeekDad and GeekMom on Patreon!
