India cuts burbon whiskey tariffs to 50% amid growing US trade deal talks
India has reduced import duty on bourbon whiskey to 50 per cent as part of its efforts to negotiate a major trade deal with the US. The reduction came just ahead of Prime Minister Narendra Modi's talks with US President Donald Trump, aiming to inc...
However, there has been no reduction in basic customs duty on import of other liquors. They would continue to attract 100 per cent duty.
The US is the primary exporter to bourbon whiskey to India accounting for about one-fourth of all such liquor imported into India.
The US is the primary exporter of bourbon whiskey to India accounting for about one-fourth of all such liquor imported into India.
It was 150 per cent earlier.
India has imported bourbon whiskey worth USD 2.5 million in 2023-24. The major exporting countries include the US (USD 0.75 million), UAE (USD 0.54 million), Singapore (USD 0.28 million) and Italy (USD 0.23 million).
India and the US have resolved to more than double the two-way trade to USD 500 billion by 2030 and announced plans for a bilateral trade agreement with a view to bring down duties and increase market access.
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