Latest news with #JohnnieWalker
Economic Times
5 hours ago
- Business
- Economic Times
Big Scotch tariff cut to bring little cheer for Indians after UK trade deal
Agencies Representative image. At first glance, halving import tariffs on Scotch to 75% under the India-UK trade deal should bring the biggest cheer to India's whisky lovers. But there is little to celebrate once you look closely at India's complex tax regime. In the world's most populous nation, each of the 28 states and eight federally-controlled territories regulate alcohol independently and impose heavy local taxes that contribute richly to the exchequer. That means the price consumers pay for their drink in India includes state excise tax, handling charges, a social welfare fee, and distribution and retailer margins, and once they are taken into account the industry estimates final prices of imported Scotch will come down by less than 10%, four liquor industry executives said. Some fear states may even increase taxes, cancelling out the reduction from the trade deal. One executive at a foreign company said the tariff cut "won't be a gamechanger." Another said the share of customs duty as a percentage of the total product price was less than 25% in most states. Both declined to be named as they were not authorised to speak to the media. Naveen Malpani, consumer and retail industry leader at consultants Grant Thornton Bharat, said the import duty made up only about 10% to 20% of the retail price on average across India, with the rest from local levies and other costs. "The deal is likely to enhance premiumisation and brand variety rather than trigger an immediate spike in demand," he said. A breakdown provided on the website of the government of southern Kerala state shows the high taxation regime: a bottle of Pernod's Chivas Regal blended Scotch aged for 18 years costs 6,288 rupees ($72) with import tariffs, but local taxes and levies take the price to 13,560 rupees ($156). Similarly, Johnnie Walker Blue Label costs 30,570 rupees ($352) in Kerala. In California, after discounts, that brand costs around $180, according to shopping website Despite the high taxes, Euromonitor estimates India's spirits market was worth $37 billion last year, lagging only China and the United States, and it remains an attractive market - Diageo, which produces Johnnie Walker, and Pernod Ricard together had India revenues of almost $6 billion last year. India is Scotch whisky's largest export market by volume, with the equivalent of more than 192 million bottles exported to the country in 2024, and the volume growing by more than 200% in the past decade, according to the Scotch Whisky Association. But doing business in the whisky-loving country is challenging. As well as the layers of taxation, companies must contend with a web of regulation, which requires they seek approval for bottle labels and prices each year. In 2022, Pernod's then South Asia CEO told Reuters in an interview that India was "probably the most complex market" in the world for the industry. Amid the complexity, local producers have also stepped up. Made-in-India single malts are offering stiff competition to the established international brands as Indians develop a taste for bespoke cocktails and more sophisticated drinks. Young Indians "are all going for Indian single malts rather than Scotch," said Rajesh Chopra, director general of Indian Malt Whisky Association, adding lower tariffs could spur collaboration among Indian and UK whisky makers.
New Indian Express
2 days ago
- Business
- New Indian Express
Let 2026 election be fought on people's wealth
The promised downward revision of prices of Jaguar and Johnnie Walker is barely a hot topic of discussion as the absence of tomato in rasam and of coconut in chutneys these days. For the EMI-trapped generation, the fall in interest rate still tops the list. On the other side, people from the bottom of the pyramid, which shrinks only when the cutoff is raised for political convenience, are more bothered about their daily bread. Your personal income may be rising slowly in pure numbers but persistently shrinking in value and in what it can afford to buy for you. What is heartening now is that some governments have begun to talk about putting more money in the hands of people; the promise of repatriating black money from Swiss banks and sharing the booty with common people has outlived its utility and died. Some promises are meant to perish as empty promises. So be it. When a government makes a serious effort at bringing in investments, taps the inherent potential for revenue growth, and spreads the message of social welfare to help people escape the poverty trap, it is the first baby step towards heralding economic progress. Tamil Nadu has taken the lead to announce to the world that the per capita income (at constant prices) has jumped to nearly Rs 2 lakh, making it the second-highest in India, just behind Karnataka's Rs 2.05 lakh. A balanced economic model, robust infrastructure, and skilled workforce have been the key drivers. TN's economic growth at 9.69% in 2024-25, the highest in India, has surely given it a push. If BJP wants to take pride in the rise in national per capita income (at constant prices) to Rs 1.15 lakh in 2024-25, up from Rs 72,805 in 2014-15, it ought to thank the southern states. Karnataka, TN, and Telangana have topped the chart, helping the national average to record an impressive 58% growth in the last 11 years, while the growth in BJP-ruled states is nothing to write home about.
Cision Canada
4 days ago
- Business
- Cision Canada
KEENON Debuts First Bipedal Humanoid Service Robot at WAIC, Showcasing Role-Specific Embodied AI Solutions
SHANGHAI, July 26, 2025 /CNW/ -- The world premiere of KEENON Robotics' bipedal humanoid service robot, XMAN-F1, takes center stage at the World Artificial Intelligence Conference (WAIC) 2025 in Shanghai from July 26 to 29, where the pioneer in embodied intelligence showcases its latest innovations on the global stage for breakthrough AI advancements. Transforming its showground into an Embodied Service Experience Hub, KEENON immerses visitors in three interactive scenarios—medical station, lounge bar, and performance space—highlighting how embodied AI solution is actively reshaping future lifestyles and industrial ecosystems. At the event, XMAN-F1 emerges as the core interactive demonstration, showcasing human-like mobility and precision in service tasks across diverse scenarios. From preparing popcorn to mixing personalized chilled beverages such as Sprite or Coke with adjustable ice levels, the robot demonstrates remarkable environmental adaptability and task execution. Scheduled stage appearances feature XMAN-F1 autonomously delivering digital presentations and product demos, powered by multimodal interaction and large language model technologies. Its fluid movements and naturalistic gestures establish it as the primary focus of attention, with visitors gathering to witness its engagement live. The demonstration spotlights further multi-robot collaboration in specialized environments. At the medical station, the humanoid XMAN-F1 partners with logistics robot M104 to create a closed-loop smart healthcare solution. The bar area features a highlight collaboration with Johnnie Walker Blue Label—the world's leading premium whisky—where robotic bartenders work alongside delivery robot T10 to craft and serve bespoke beverages. The seamless multi-robot integration not only enhances operational efficiency but signals the dawn of robotic system interoperability, moving far beyond single-task automation. According to IDC's latest report, KEENON leads the commercial service robot sector with 22.7% of global shipments and holds a definitive 40.4% share in food delivery robotics. At WAIC 2025, the company reinforces its market leadership while presenting its ecosystem-based strategy for cross-scenario embodied intelligence solutions. Looking ahead, KEENON will continue driving innovation in embodied intelligence, combining cutting-edge R&D and global partnerships to unlock the full potential of 'Robotics+' applications worldwide.
Yahoo
4 days ago
- Business
- Yahoo
Why Dividend Investors Count on Diageo (DEO) for Stability and Reliability
Diageo plc (NYSE:DEO) is included among the Top 10 Safest Dividend Stocks in the UK. A close-up of bottles of whisky and other alcoholic beverages from a winery. Diageo plc (NYSE:DEO) is among the best FTSE dividend stocks. The company owns well-known brands such as Johnnie Walker, Tanqueray, Ketel One, Don Julio, and many other premium spirits. It is also the producer of Guinness, the famous Irish stout. With a portfolio of over 200 brands, Diageo sells its products in 180 countries worldwide. Although Diageo plc (NYSE:DEO)'s offerings cover a wide range of price points, the company has recently concentrated on acquiring and developing premium brands. This strategy allows the company to raise prices more easily, as it does not rely on competing through lower costs, and aligns with the growing consumer preference for higher-quality spirits. Diageo plc (NYSE:DEO) is a solid dividend payer, having raised its payouts for 25 consecutive years. The company pays an interim dividend of $1.62 per share for a dividend yield of 3.87%, as of July 25. While we acknowledge the potential of DEO as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and Disclosure: None. Sign in to access your portfolio
New Indian Express
6 days ago
- Business
- New Indian Express
Imported whiskies to get cheaper by Rs 300 a bottle
Despite a steep reduction in import duties on UK-originated spirits under the newly signed India-UK Free Trade Agreement (FTA), the final impact on the prices of premium brands such as Johnnie Walker and Glenfiddich in India is expected to be limited. This is because alcohol taxes fall under state jurisdiction, and excise collections remain a major revenue source for state governments. "Consumer prices for imported Scotch (whiskey) are not likely to change much. Most of the taxes on alcohol sit in states, and even if all customs duty reduction is passed on, the impact on consumer prices of imported Scotch whiskies will be in the range of Rs 100-300 per bottle," liquor industry expert and director general of the Brewers Association of India Vinod Giri said. He added that since price segments in whisky are currently too wide, this much reduction is not going to win any new consumers, and hence companies are likely to instead pocket the savings. As per the FTA signed in London between India and the United Kingdom, India is reducing duty on UK whisky and gin from 150% to 75% and further to 40% in the tenth year of the deal. The revised tariff structure will apply to both bottled-in-origin (BIO) and bulk imports, which are used for making Bottled in India (BIO) products as well as blending with Indian made foreign liquor (IMFL). International liquor brands welcomed the FTA as they believe it will lead to premiumisation in the world's largest whiskey market.
