Confederation of Indian Alcoholic Beverage
Companies welcomed the India–UK Comprehensive Economic and Trade Agreement
¨
Confederation of Indian
Alcoholic Beverage Companies (CIABC) welcomed the India–UK Comprehensive
Economic and Trade Agreement (CETA), which came into effect on 15 July 2026.
¨
The India–UK CETA is a
Free Trade Agreement (FTA) between India and the United Kingdom.
¨
The agreement covers
trade in goods, services, investment, and regulatory cooperation.
¨
It aims to increase
bilateral trade between the two countries from USD 60 billion to USD 100
billion over time.
¨
The agreement provides
zero-duty access to nearly 99% of India's exports in the UK market.
¨
CIABC Director General
Anant S. Iyer stated that the agreement creates new opportunities for the
alcoholic beverage industry in both India and the United Kingdom.
¨
The agreement also
promotes technical know-how, best practices, and investment flows between the
two countries.
¨
Under the agreement, the
import duty on Scotch whisky was reduced from 150% to 75%, effective from 15
July 2026.
¨
The import duty is
scheduled to decline further to 40% over the next 10 years.
¨ The Scotch Whisky Association estimates that exports of Scotch whisky to India could increase by £1 billion (approximately USD 1.34 billion) over the next five years.
¨ India is one of the largest markets for Scotch whisky in Asia.
