Indian negotiators proposed to allow Scotch whisky import in barrels and bottles, but will bargain for mobility and migration related issues.
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The 14th and final round of discussions for the India-UK FTA, which started last month, is still on and India is hoping that FTA will fructify with positive commitments.
Source: Freepik
India and the UK have held 14 rounds of negotiations for the FTA, and both sides are keen to conclude the agreement soon.
Source: PTI
A delegation of high-ranking officials from the UK arrived in India on 22 January to discuss remaining aspects of the free-trade agreement negotiations.
Source: ANI
On the issue, a British High Commission spokesperson said, “The UK and India continue to work towards an ambitious trade deal."
Source: Unsplash
A majority of the issues in the proposed FTA between India and the UK are either finalized or at an advanced stage of talks.
Source: PTI/ Representational
“The FTA will become a tool of facilitation for both nations. Wait till February-end, there will be a positive development in India-UK FTA," the official said.
Source: Pexels
“We want the government to propose a tax reduction on bottled liquor from current 150% to 100% now and then to 50% over a period of 10 years, said Vinod Giri head of CIABC.
Source: Pixabay
In terms of sales’ value for Scotch whisky, India stands at fifth position in the world.
Source: Official website
As per industry data, sales of Scotch whisky in India increased by 93% to $340 million in 2022.
Source: Freepik
Scotch, however, accounts for just 2% of all whiskies consumed in India.
Source: Pixabay
The overall whisky market in the country is expected to cross $22 billion by 2027.
Source: Unsplash
The mobility issue has become a bone of contention for UK as ending free movement of people and taking back control of its borders were key factors leading to Brexit in 2016.