India Scotch probe threatens trade deal
A trade group representing Diageo and Pernod Ricard warned that Indian investigations into bulk Scotch imports threaten benefits agreed upon in the recent India-UK trade pact. Authorities are probing whether companies misclassified imports to avoid higher duties.
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India is excluding bulk Scotch imports from a reduced 75% tariff, threatening benefits agreed in an United Kingdom trade pact. The dispute emerged after local investigators searched offices belonging to major spirits producers. Tax authorities claim bulk imports do not qualify for the preferential rate negotiated under the bilateral trade framework.
