Categories
UK

Cheers! Boris’ India trade deal will work ‘beautifully’ with Scottish Whisky


India is the second largest importer of Scotch Whisky by volume, with the equivalent of more than 131 million bottles exported there in 2019. With the UK facing down a possible recession later this year, a trade deal with India that allows tariff-free exports could give the economy a much needed boost within the next few years. Garry Pickles of the British Whisky Company told Express.co.uk: “The deal would be huge for Scottish whisky makers.

“It would provide access to a massive market that promises a fantastic opportunity for one of Scotland’s main exports.”

India is the largest whisky market in the world – but Scotch Whisky makes up just 2 percent of the market, report the Scottish Whisky Association.

However, Gaurav Singh, founder of leading start-up investment bank JPIN emphasised the cultural relevance of Scottish whisky in India.

He told Express.co.uk: “Scottish whisky is a very strong brand.

“It’s hard to think of more influential whisky companies in India.

“Many people love to take a tour up in Scotland of the breweries, it’s fascinating for us.

“It should work beautifully and work wonders for Scottish trade.”

The whisky market is also critical to Scots. Labour MSP Daniel Johnson told the Express: “People sometimes overlook just how important whisky is.

“With oil in decline it is our number one export and I think we very seriously need to have a greater focus on that”.

Such a trade deal does depend, however, on Boris Johnson securing a removal of the hefty trade tariff on whisky being exported to India.

At the moment, liquor coming into India is slapped with a 150 percent tariff.

READ MORE: ‘The world won’t look kindly!’ EU blasted for UK trade war threat [REVEAL]

“The midterm target would be to at least double the size of the market. And with the size of the population of the middle class, I’ve seen the appetite is extremely high.

“It should become one of the top markets.”

Free movement for citizens between the UK and India may be one of the demanded requirements for India to remove their lucrative tariffs from imported whisky.

Anne-Marie Trevelyan, UK trade secretary, has said that “everything is on the table” as the countries look to finalise a deal.



Source link

Avatar

By Charles Harrison

Charles Harrison joined Express.co.uk as a News Reporter in January 2022, having previously worked at Southwark News from 2021.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.