NEW DELHI (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 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.
(Reporting by Aditya Kalra; Editing by Christina Fincher)