NEW DELHI, Feb 14 (Reuters) - India has slashed tariffs
on bourbon whisky to 100% from 150%, a move that will benefit
imports of brands like Suntory's Jim Beam, after U.S. President
Donald Trump's criticised "unfair" levies in the South Asian
market.
Trump, who met Indian Prime Minister Narendra Modi at the
White House this week, has railed against the climate for
American businesses in India and unveiled a roadmap for
reciprocal tariffs on countries that put duties on U.S. imports.
The tariff notification by the Indian government was dated
Feb. 13 but gathered media attention only on Friday. It said the
basic customs duty on bourbon will be 50%, with an additional
levy of 50%, bringing the total to 100%.
Previously, such imports were taxed at 150%.
There will be no change on imports of other liquor products,
which are also taxed at 150%.
Many foreign liquor companies such as Diageo ( DEO ) and
Pernod Ricard operate in India's $35 billion spirits
market, and industry executives have often criticized India's
high tariff regime for such imports.