UK Scotch whisky makers cheer news of FTA with India, eye expansion
Foreign competitors eyeing the world’s biggest whisky market can expect stiff competition from Indian makers, industry players say
Global Scotch whisky producers are eagerly eyeing India after New Delhi and London concluded their long-awaited free trade agreement (FTA), as lower tariffs are set to propel sales in the world’s largest market for the popular alcoholic drink.
While this could make imported Scotch whiskies much more accessible to Indian consumers, analysts and industry insiders say foreign distillers will still face stiff competition from increasingly sophisticated domestic brands.
“India’s alcoholic drinks market is at a crossroads, combining strong demand for home-grown products and rising interest in high-quality imported premium products,” said Sanjit Padhi, chief executive of the International Spirits and Wines Association of India.
The new FTA could expand consumer choices, enhance quality benchmarks, and create a level-playing field benefitting domestic and international players, Padhi said.