Latest news with #Iyer
Time of India
3 hours ago
- Business
- Time of India
A day after India-UK FTA, Indian liquor companies allege discrimination against homegrown brands in Britain
Photo: Generative AI NEW DELHI: Scotch and British gin makers may have been successful in gaining lower import duty in India following the FTA with UK, but local alcohol companies here are miffed, alleging discrimination against Indian brands when they are shipped to the UK. Local companies claim that the UK govt has prescribed 'non-tariff barriers' to stop Indian brands from accessing the market 'equally and fairly', and these restrictions result in below-par sales and non-impactful operations. 'The UK and even the European Union do not allow fair imports of most Indian-Made Foreign Liquor (IMFL) products into their markets due to non-tariff barriers related to maturation and ingredients. We only wish that the Indian govt had stood firm on the issue of non-tariff barriers,' said Anant S Iyer, Director General of Confederation of Indian Alcoholic Beverage Companies (CIABC) told TOI here. Giving details, Iyer said the UK govt has prescribed that to label a brand as whisky, an Indian company has to ensure that I's whisky has been matured for at least three years, the same yardstick that the UK applies for brands produced and sold in their country. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Why Seniors Are Snapping Up This TV Box, We Explain! Techno Mag Learn More Undo 'However, this is an unfair ask. In the UK and EU, the weather is cold and it takes time to mature the spirit and thus the three-year mandate holds good. But in India, the maturation is much faster given the tropical climate that we have. A longer period of maturation, say for three years, will mean that around one-third of our spirit will evaporate due to the hotter climate which will not only result in losses but also impact the quality of the product. ' 'UK laws do not allow anything matured under three years to be labelled as whisky. Thus, we are forced to categorise our brands as 'Indian spirits'. This description effectively keeps us out the broader whisky market in the UK and Europe, and thus customers do not buy our products. We would like to label our products as Indian Whisky or Indian Rum/Brandy and sell same in the UK/EU and allow the market and consumer to decide. CIABC is continuing to seek the govt's support in taking up 'the issue of discrimination' with the UK govt to ensure that Indian brands, which fiercely compete with the western products here, are allowed the same opportunity abroad. CIABC is now petitioning the govt that it take up 'the issue of discrimination' with the UK govt to ensure that Indian brands, which fiercely compete with the western products here, are allowed the same opportunity abroad. 'The govt has set an ambitious target of achieving $1 billion in exports from the Indian alcobev industry by 2030. However, without ensuring proper market access, it will be difficult to meet this target. Though Indian whiskies, rum, gins, wines, etc., have been winning accolades globally, the lack of removal of non-tariff barriers and absence of reciprocal market access will make this export target hard to achieve,' Iyer said. CIABC has also recommended the govt that it mandate a minimum import price (MIP) on Bottled-in-Origin (BIO) products coming in from Scotland to ensure that the Scotch whiskies are not imported to India at lower rates. 'We hope that the govt will ensure that Scotch whisky and other BIO spirits are not dumped in India at low import prices or routed through any other country at cheaper rates. This will hurt the growth of premium and luxury Indian brands. To ensure guardrails are in place, the govt needs to utilise technology to monitor imports through continuous scanning of billing prices and GI tagging at ports of entry into India. Any deviation should be red-flagged and immediate action taken on anti-dumping grounds. A solution to address this would be the imposition of a minimum import price (MIP) on BIO products. In fact the Govt has incorporated MIP in the India -UK FTA on rum/brandy and other liquor products. The only exception on this count being Scotch Whisky/other whiskies/Gin originating from UK.' Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Canada News.Net
5 hours ago
- Business
- Canada News.Net
"Historic": Industry experts hail India-UK Free Trade Agreement
New Delhi [India], July 25 (ANI): The India-UK Free Trade Agreement has provided wider access to goods and services of both countries with industry leaders viewing the 'historic' deals as opening up opportunities to push more trade in the United Kingdom. Confederation of Indian Alcoholic Beverage Companies Director General Anant S Iyer said the FTA will strengthen the economic ties between the two countries across a lot of sectors. 'We believe that this FTA is pretty historic between India and the UK, because it will strengthen our economic ties between the two countries across a lot of sectors,' Iyer told ANI. India is set to benefit from the elimination or reduction of tariffs on about 99 per cent of its exports to the UK post the FTA. 'About 99 lines of business would benefit, especially very high labour intensive ones,' he said. He has also requested the government to have a minimum import price on alco-beverages, or have some mechanism whereby there is anti-dumping clauses to curb the entry of low-priced items into India. 'The second thing we are saying is to look at the country of origin. So be very clear that the rules of origin are followed so that you cannot get scotch diverted from some other country or wines coming from using loopholes,' Iyer said. British whisky producers will benefit from tariffs slashed in half, reduced immediately from 150 per cent to 75 per cent and then dropped even further to 40 per cent over the next ten years - giving the UK an advantage over international competitors in reaching the Indian market, an UK statement noted yesterday. Pankaj Chadha, Chairman, EEPC India, talking to ANI, affirmed optimism that engineering goods exports are poised to double with this FTA. 'We see that our exports will rise more than 100 percent. We are currently at 4.2 billion dollars of engineering exports. We hope that this will rise to 7.5 to 8 billion dollars in two to three years. It is a good deal, beneficial for both sides, and I'm complimenting the government for it,' Chadha added. Chadha also said that this FTA indicates other countries that India only signs win-win deals. 'We want to do it. We are ready to it. But it has to be win-win for both sides. There cannot be any one-sided deal. And we have drawn our red lines,' he noted. Archana Jahagirdar, Founder and Managing Partner of Rukam Capital said the India-UK Free Trade Agreement and the unveiling of the Vision 2035 document represent an essential calibration for entrepreneurs and investors across both economies. 'By unlocking near-zero tariffs for 99 per cent of Indian exports and significantly improving market access, these frameworks stimulate innovation, enable cross-border capital flows, and establish a conducive platform for the next-gen startups. The provisions on digital trade, skills mobility, technology, and critical minerals pave the way for VC-backed founders to build global-first companies from both countries. It will further enable the ecosystem to collaborate and co-innovate in emerging sectors, and seize new market opportunities in climate tech, AI, sustainability, and beyond,' added Archana Jahagirdar. Ajay Sahai, DG and CEO, FIEO, said, 'This is a historic is probably one of the biggest FTAs signed by India recently. This is important because it not only helps push traditional exports, which may be textile, apparel, footwear, gems and jewelry, toys, sports goods, marine products, food processing sector, but also some of the new sectors of export including organic chemicals, automobile, machinery and other engineering goods.' 'We are also seeing that India is exporting a lot services to the UK also. In fact, UK is one of the countries where services export is much more than the goods exports of India,' added Sahai. Jyoti Vij, DG, FICCI, said it's a significant way forward between the two countries. 'It's a path-breaking agreement that has been entered into by the two countries. There are going to be significant opportunities for various sectors, most particularly for the employment-intensive sectors where the market access will increase... There are very positive factors, like the Social Security Agreement, which eases the movement of people. Some of the visa restrictions have been removed. That will help in increasing business opportunities... When you have more export opportunities, you invest more in that sector. When you invest more, you employ more... That way, your market gets expanded, more export opportunities are always good for the economy's growth....,' she noted. India's average tariff on UK products will drop from 15 per cent to 3 per cent under India-UK FTA. Both nations desire to increase their trade to USD 120 billion by 2030. On May 6, Prime Minister Modi and PM Starmer had announced the successful conclusion of a mutually beneficial India-UK Free Trade Agreement (FTA). This forward-looking Agreement is aligned with India's vision of Viksit Bharat 2047 and complements the growth aspirations of both countries. The much-awaited landmark India-UK Free Trade Agreement was signed on Thursday, in the presence of Prime Ministers Narendra Modi and his British counterpart Keir Starmer, as PM Modi was on a two-day visit to the UK. (ANI)
Indian Express
a day ago
- Business
- Indian Express
India-UK CETA: Scotch imports to get cheaper now with tariffs halved to 75%
After the India-UK Comprehensive Economic and Trade Agreement (CETA) signed today, scotch whisky imports from the UK are set to get cheaper for Indian consumers, with tariffs slashed from 150 per cent to 75 per cent. The landmark agreement does not impose minimum import price (MIP) rules on scotch imports, which had been a key demand of India's domestic industry. British scotch brands including Chivas Regal, Ballantine's, Glenlivet, Glenfiddich, and Johnnie Walker could benefit from the tariff reduction. Under the agreement, India will immediately cut tariffs by half to 75 per cent, and then to 40 per cent over ten years, once the deal is ratified domestically by the two countries. Scotch distillers in the UK have welcomed the reduction in tariffs, which will give them greater access to the world's biggest whisky market by volume. Whisky was the UK's fifth-largest export product to India in 2024-25, valued at roughly $260 million. 'The deal will support long term investment and jobs in our distilleries in Speyside and our bottling plant at Kilmalid and help deliver growth in both Scotland and India over the next decade,' said Jean-Etienne Gourgues, Chairman and CEO of Chivas Brothers, the firm behind popular whisky brands such as Chivas Regal and Ballantine's. India's domestic alcoholic beverage industry, however, has flagged potential dumping concerns with the reduction in tariffs. 'Though lowering of import duty on Scotch will help the domestic industry—as Scotch used to produce blended products will also get cheaper—we hope that the government will ensure that Scotch whisky and other spirits (BIO-bottled in origin) are not dumped at low import prices or routed through any other country at cheaper rates, which would hurt the YOY growth of premium and luxury Indian brands,' said Anant S Iyer, director-general of the Confederation of Indian Alcoholic Beverage Companies (CIABC), hours before the full text of the agreement was made public. To counter dumping, Iyer said the industry had recommended to the government to introduce MIP rules for scotch. However, the agreement does not impose any such requirements on scotch imports. 'With the import duty being cut drastically, it is high time that a number of state governments end all concessions—such as lower brand registration fees, reduced excise duties, etc.—currently extended to BIO brands,' Iyer said. 'This has created a situation where importing Alcobev products is becoming cheaper than producing it in India. With lower import duties, it will now become even more economical for MNC's to import their products. State governments should end all discrimination against India-made alcoholic beverages,' he added in a media note. Iyer also flagged lack of market access for Indian-made foreign liquor in the UK and EU due to non-tariff barriers related to maturation and ingredients. 'Though Indian whiskies, rum, gins, wines, etc., have been winning accolades globally, the lack of removal of non-tariff barriers and absence of reciprocal market access will make this export target hard to achieve,' he said. While tariffs on Indian exports of beverages, spirits, and vinegar have been eliminated entirely, non-tariff barriers are likely to remain. Opening up the Indian market to foreign liquor has been a contentious issue in trade talks, including those ongoing with the US and the EU. Earlier in February, when the government had slashed duty on bourbon whisky – a key US export – from 150 per cent to 50 per cent, the domestic industry urged states to withdraw all excise concessions given to imported liquor, arguing that the customs duty cuts would harm Indian products in both the spirits and wine categories. Aggam Walia is a Correspondent at The Indian Express, reporting on power, renewables, and mining. His work unpacks intricate ties between corporations, government, and policy, often relying on documents sourced via the RTI Act. Off the beat, he enjoys running through Delhi's parks and forests, walking to places, and cooking pasta. ... Read More
New Indian Express
a day ago
- Politics
- New Indian Express
Finally, truce in IOA as CEO appointment ratified by EC
CHENNAI: IN the end it seems like much ado about nothing. Finally, all the factions in the Indian Olympic Association seems to have buried the hatchet. The Executive Committee has ratified the appointment of Chief Executive Officer Raghuram Iyer on Thursday. The appointment of CEO Iyer in January last year led to the majority of the EC members objecting to it and alleged that the IOA president had decided on this unilaterally without the consent of the EC. More than 10 EC members has signed a letter objecting to it. Just over eight months, the IOA seems be an unified lot. IOA president PT Usha said on Thursday that everything has been sorted and the CEO appointment has been ratified which the EC members had objected then. "Everything is sorted out, that is why the CEO (Iyer) is sitting with me," she said during a press meet in New Delhi. Getting the house in order seemed to be their priority after the International Olympic Committee (IOC) had warned India that their 2036 Olympic bid without a strong National Olympic Committee might not be favouring them. In quite a few replies to this newspaper, the IOC kept reiterating their position of a united house. Interestingly, the CEO appointment had been accepted by the IOC last year itself. Even before the ratification, the CEO had been part of almost all important meetings involving the IOA including the Paris Olympics, IOC headquarters in Lausanne and Commonwealth Sports. Joint secretary Kalyan Chaubey, who during the days of revolt had proclaimed himself as acting CEO quite a few times and had been rude to the IOA president also seemed at peace when he said they are now looking forward in the interest of the nation.
&w=3840&q=100)
Business Standard
a day ago
- Sport
- Business Standard
Positive on India hosting 2036 Olympics, but prediction premature: IOA CEO
The Indian Olympic Association (IOA) is "very positive" about the country getting the hosting rights of the 2036 Olympics but feels that it's "premature" to predict anything right now as more countries are joining the race. Qatar is the latest country to reveal that it has begun a "dialogue process" with the Future Host Commission of the International Olympic Committee (IOC) for the hosting rights of the 2036 Games, the first step in a lengthy process before a host country is selected. "We would like to believe that we are in a very positive state. But still it will be premature to say (who will get the hosting rights) because there are still countries which are jumping in. So that's where we are," IOA CEO Raghuram Iyer said at a press conference here on Thursday. India, which submitted its 'Expression of Interest' last year, is one step ahead as it is in the 'Continuous Dialogue Process' with the Future Host Commission (FHC) of the IOC. The next step is the 'Targetted Dialogue Process' before the FHC recommends a preferred host country to the IOC Congress. He said that the host country for the 2036 Olympics is likely to be known only after two years as the IOC itself has announced a "pause" on the whole process. "We are in a stage of continuous dialogue currently with the IOC. It's pause and reflect for the IOC right now. They just got a new leader (president) who is driving some changes within the IOC. "In next couple of years we will really get to know which direction it is going," said Iyer whose appointment was ratified by the IOA executive council after more than a year due to a bitter feud between Usha and majority of the EC members. An IOA delegation visited Lausanne last month to push for the 2036 Olympic bid. The delegation included IOA president PT Usha, sports secretary Hari Ranjan Rao, Gujarat Sports Minister Harsh Sanghavi among others. Asked about the visit, Iyer said, "It was a very positive meeting (with IOC officials). It was attended by the IOC top brass. And the follow-up would be at some point in time, they (IOC officials) would look at coming down to India very soon. "The way continuous dialogue works currently, it's almost like they (IOC) were holding a workshop for us. It is not that we would present and say this is the city and this is how we do it. "They (IOC) have held a workshop for us. It's a lot on sustainability, on athlete-centric work that you are going to be doing. It's a lot on the legacy that you are going to leave. So it need not just be one city." 2030 CWG bid decision to be known in November"It's an ongoing process. The Commonwealth sports representatives, the team management and the sports management, they will be going around all the prospective hosts before the General Assembly decides the host in the last week of November in Glasgow," said IOA executive member Harpal Singh. India's chances of getting the 2030 CWG has improved after Canada pulled out of the bidding race. "The host selection will be based on sustainability, athletic centre, flexibility in terms of regional appeal, there needs to be flexibility in terms of the host nations taken. "We are hopeful and optimistic that the 2030 Games will come to India." IOA Athletes Commission to launch ambitious 'India Plays' programme IOA Athletes Commission vice-chairman Sharath Kamal announced the launching of 'India Plays' programme on August 29, the National Sports Day, aiming to get 100 million people playing a particular sport or any activity. "We can clearly see that India is growing more into the direction of building athlete-centric programmes. We would launch a campaign called 'India Plays' which will try to get 100 million people playing a particular sport or any activity on the 29th of August which happens to be our national sports day," said the celebrated former table tennis player. "We'll try and run this campaign through the Athletes Commission of the IOA where we'll have the other Olympians and elite athletes as ambassadors and mobilisers to reach out to the various state Olympic associations and national sports federations, ministry of youth affairs and sports, fit India movements and various other organizations. "We need to have more number of people playing sport and having sport as a way of life. Of course, we all want the medals, Olympic medals and trying to excel at international level but for us as athletes I think this will be a strong movement which will make a sport a part of life, a way of life in every citizen of India." He also said that the IOA Athletes Commission will establish a strong communication channel for active and retired athletes across all sports. "We will develop structures for mental health support, career transition guidance and training access beyond the competitive years and empowerment and leadership programmes where we try and create mentorship programmes and athlete led workshops to help build leadership programmes for all the athletes.
