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According to the notification issued by the Revenue Department, Bourbon Whiskey will now attract 50 percent customs duty duty on its imports.
America is a primary exporter of Borban Whiskey for India for about one-fourth of all liquor imported in India in India. (Representative image)
India has dropped import duty on Borbon Whiskey up to 50 percent as it has become hot to talk to a mega trade deal with the US.
The reduction in customs on Borbon Whiskey was reported on 13 February just before Prime Minister Narendra Modi’s talks with US President Donald Trump.
However, there has been no decrease in basic customs duty on other liquor imports. They will continue to attract 100 percent duties.
America is a primary exporter of Borban Whiskey for India for about one-fourth of all liquor imported in India in India.
According to the notification issued by the Revenue Department, Bourbon Whiskey will now attract 50 percent customs duty duty on its imports.
It was earlier 150 percent.
India has imported the price of US $ 2.5 million in 2023-24 Borbon whiskey. Major exporting countries include the US (USD 0.75 million), UAE (USD 0.54 million), Singapore (USD 0.28 million) and Italy (USD 0.23 million).
India and the United States have resolved more than two-way trade by 2030 and have announced plans for a bilateral trade agreement to reduce duties and increase market access.
(This story has not been edited by News18 employees and a syndicated news agency has been published from feed – PTI,
