Import duty on bourbon whisky: Prime Minister Narendra Modi And many important decisions have been taken in the meeting between US President Donald Trump at the White House. A major decision in these decisions has also been made for Borbon Whiskey to be imported from America. India has reduced the tariff on Borbon Whiskey from 150 percent to 100 percent.
This decision of India will benefit the brand of many big bombon whiskey of America on the one hand. At the same time, India can also be considered a good news for people fond of drinking expensive liquor. Now alcohol enthusiasts will be able to get borbon whiskey at a lower price than before.
American brands will benefit
According to the report of Hindustan Times, President Donald Trump had criticized American things and especially about the imposition of more tariffs imposed by India in the field of liquor. After this decision, many whiskey brands of America have increased the chances of benefiting from India.
According to the announcement made by the central government, the original customs on Borbon Whiskey will now be 100 percent with 50 percent and additional 50 percent levy. Earlier, there was a huge tax of 150 percent on the import of Borbon Whiskey.
How big is the liquor market in India?
According to the statement issued by the Government of India, this deduction applies only to Borbon Whiskey. There has been no change in tariffs on other liquor products. A 150 % tariff on them will be the same as before. It is believed that this tariff cut is a symbol of a significant change in Indiaโs import duty on American goods.
India has a $ 35 billion liquor market. This decision has come up at a time when global traders were surrounded by concern due to more import duty. Many big companies were considering the huge import duty being imposed by India as a hindrance to development and business.
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