back to top
Saturday, May 25, 2024
34 C

Traders list 240 goods including Whisky for free trade agreement talks with UK



Whisky, cars, vaccines, basmati rice, wool, and tea pre-mix top a list of 240 odd products the Indian industry has identified for import duty cuts in the United Kingdom under a proposed free trade agreement (FTA) between the two countries. The industry has come up with the list of products for greater market access in the UK as the two countries gear up to launch formal negotiations on an FTA.”An FTA with the UK will offset some of the disadvantages that India has vis-a-vis Vietnam” and boost India’s share in the UK’s imports over the coming years, said Ajay Sahai, director general of Federation of Indian Export Organisations (FIEO). The federation has called for doing away with the 4% import duty on wool and yarn as no such duty is paid by other European and Turkish suppliers to the UK, and 3.1% duty on instant coffee.

An FTA with the UK is significant for Indian exporters because their rivals from Bangladesh, Sri Lanka and Pakistan enjoy duty-free benefits under the UK’s Generalised Scheme of Preferences.

The two countries will start joint scoping discussions on October 1 to finalise the terms of reference to launch the negotiations in November, the government had said recently.

They plan to put in place an interim agreement by March 2022 followed by a comprehensive agreement.

The interim trade pact would involve early tariff or market access concessions on certain key high priority products and services, the two sides had decided last week.

Indian industry is also keen to gain market access for its whisky in the UK. Out of the around 73 million cases of alcoholic beverages that India had exported in 2019-20 only 30,000 cases went to the UK and EU combined.

The UK has put in place barriers such as the requirement of grain-based spirit, something that most Indian companies can’t fulfil as liquor here is mostly made from molasses due to high sugar production. Another parameter mandates that the whisky should’ve aged for three years.

Confederation of Indian Alcoholic Beverage Companies (CIABC) has pushed for Indian whiskies to be allowed to be sold in the UK as whiskies irrespective of whether they are made from malt, grain spirits or molasses-based spirits.

The above news was originally posted on

Aabkari Times Editorial Team
Aabkari Times is a monthly news magazine on Liquor, Excise and Alcohol allied industry; being published since 2009 by the expertise of retired excise dept. associates and alco-bev industry professionals as our editorial team. Our magazine contains different new alco-bev strategic and new brand launch articles as well as news on recent govt. policies, trends on alcohol industry and other important data relevant to the distilleries and industry at the mass.

Subscribe to our magazine

━ more like this

Oil Marketing Companies Seek Bids for Ethanol Supply in ESY 2023-24

In ESY 2023-24, Oil Marketing Companies (OMCs) are seeking bids for the supply of approximately 66 crore litres of Denatured Anhydrous Ethanol. Bidders are...

Haryana’s New Excise Policy to Raise Liquor Prices, Introduce Tracking System

The Haryana government has given the green light to a comprehensive excise policy for the fiscal year 2024-25, slated to take effect from June...

Radico Khaitan Unveils Last Three Bottles of Rampur Signature Reserve at Hyderabad Airport Duty-Free

Radico Khaitan proudly marks its entry into Hyderabad Airport Duty-Free, unveiling the last three bottles of the globally acclaimed Rampur Signature Reserve Indian Single...

Karnataka Government Elevates Liquor Retail with Premium Boutique in Bengaluru

The Karnataka government has inaugurated a high-end liquor boutique in Bengaluru, located at Basaveshwara Nagar, marking a significant step in enhancing the state's retail...

New Year Cheers : A State-by-State Look at India’s New Year Liquor Surge

As the revelry of New Year's Eve subsides, India witnesses a notable surge in liquor sales, indicating a vibrant start to the year. Here's...