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No cheers for British wines - India keeps duty intact in UK FTA

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India UK FTA: According to an official familiar with the negotiations, wines are on the exclusion list along with other sensitive agricultural products such as dairy, cheese, apples, oats, and vegetable oils.
The article from Financial Express discusses India's decision to maintain high import duties on British wines as part of the ongoing free trade agreement (FTA) negotiations with the UK. Despite the UK's push for reduced tariffs to boost its wine exports, India has chosen to keep the duty intact, which currently stands at 150% for wines priced up to $5 per bottle and can go as high as 250% for more expensive varieties. This decision reflects India's strategy to protect its domestic wine industry and maintain revenue from import duties. The article also mentions that while the UK is keen on securing better market access for its wines, India is more focused on negotiating terms that favor its own economic interests, including seeking duty concessions on its exports like textiles and leather goods.

Read the Full The Financial Express Article at:
[ https://www.financialexpress.com/policy/economy-no-cheers-for-british-wines-india-keeps-duty-intact-in-uk-fta-3840681/ ]