INDIA: Budget fails to lift spirits of industry
The Indian government's decision to cut the basic import duty on spirits and wines from 210% to 182% has been met with little joy by the industry. The drinks industry still believes the cut will do little eto help their business or combat the black market. In a statement released to just-drinks Dinesh Jain, managing director of India & Area Countries, Highland Distillers said: "Duty relief on BIO (bottled in Origin) liquor is a welcome step. However, it is only a very small step. The impact of duty reduction from 210% to 182% is likely to result in a final price reduction of only about 10-12%, especially for the premium brands like "The Famous Grouse".
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