INDIA: Multi-nationals suffer tax blow in Indian market
As the world's multi-nationals prepare for the removal of quantitive restrictions (QRs) in the Indian market, hopes of further liberalisation in line with WTO proposals in India suffered a blow last week.
The set back occurred when a senior government official was reported to say that WTO rules on tariff reductions would not have to be enforced immediately.
Under a WTO agreement member countries should not be allowed to provide tariff protection to domestic industries. While the basic customs duty on alcohol in India sits at 210%, the country's commitment to the WTO should mean that the level be slashed to 150%.
But a commerce official was quoted in Business Line as saying: "Although these items would have to be removed from the restricted list to the open general licence with effect from April 1st 2001, we retain the option to maintain the customs above the bound level until 2004."
The official admitted that there was pressure from multi-nationals to cut the import duties but claimed there was "technically no necessity to effect any reduction now".
The Business Line reported that the central government was under pressure from not only domestic manufacturers who wish to protect their local brands but also State governments who "do not favour any move that could impinge on sales of Indian made foreign liquor", for tax reasons.
The latest export figures for Scotch whisky make uncomfortable reading for brand marketers and the strategists at the Scotch Whisky Association, showing declines in both Asian and European markets. C...
The global roll-out of InBev's Brazilian beer, Brahma, adds a third premium brand to the global brewer's international portfolio but some observers have suggested it's an unnecessary step which threat...
Costs relating to alcohol abuse in Sweden are on the rise, according to research out this week....
Police in eastern Kenya have said that at least 24 people died on Saturday after drinking illegally produced alcohol....
According to a recently published study, people who drink alcohol may have a lower risk of developing a type of cancer which affects the lymphatic system known as non-Hodgkin lymphoma (NHL)....
Diageo is calling for facts labels to be placed on alcohol beverages in the US....
Kenyan authorities are to ban beer and spirits advertising from television and billboards in the country, according to a local report late last week....
Post-menopausal women who consume even moderate amounts of alcohol may face an increased risk of breast cancer, according to a comprehensive US study....
- Focus - Pernod's YTD Performance by Region
- Comment - Will We Understand the Language of Rum?
- just On Call - Pernod shifts Scotch focus in China
- Focus - Heineken's Q1 Performance by Region
- just The Preview - Pernod Ricard's Q3 & YTD
- CFO of Diageo's United Spirits stands down
- Pernod Ricard sees YTD recover as sales increase
- BrewDog launches GBP25m crowd-funding attempt
- Remy Cointreau US head to step down
- Africa "subdued" but Heineken sees Q1 rises
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Global rum insights - market forecasts, product innovation and consumer trends research
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review
- ALDI 2015: Radically transforming Anglo Saxon grocery markets
- Bacardi Limited - Strategy and SWOT Report