May 2022
9:13 PM IST
News Headlines
Home   | Main News   | Kerala  | National   | International  | Business   | Sports   | Entertainment   | Columns   | Offbeat   | Health   | About Deepika 
Business News
No cheap import of liquors from UK, industry body tells govt
New Delhi, As India and the UK are moving fast to seal free trade agreement (FTA), the local liquor industry has urged Commerce Ministry to ensure that alcoholic beverages are not dumped into the country.

In order to stop cheap alcohol being dumped in the country, Confederation of Indian Alcoholic Beverage Companies (CIABC) has suggested to impose a Minimum Assessable Value (MAV) on spirits and wines for the purpose of calculating customs duty.

In case of white and brown spirits, the CIABC has proposed an MAV at the rate of $ 5 per bottle (750 ml) at CIF (cost, insurance, and freight) value. For wines, an MAV of $ 3.5 per bottle has been suggested with the intent being that products being imported at prices below MAV are taxed at MAV only.

The industry body also wants that during bilateral negotiations India should insist for getting non-tariff barriers removed on Indian alcoholic beverages.

"The Government of UK has imposed non-tariff barriers, related to product recipe and ageing, on Indian alcoholic beverages, which prevents most Indian product to access UK market. These must be removed to ensure genuine quid pro quo," CIABC Director General Vinod Giri has said in a letter to Commerce Ministry.

The industry body said that Indian whiskies should be allowed to be sold in UK as ‘Indian Whisky’ irrespective of whether they are made from malt, grain spirits or molasses-based spirits.

CIABC expects that alcoholic beverages may be part of the early harvest with the UK.

Members of CIABC include major Indian companies who manufacture and market their product range in India and abroad.

Mcap of eight of top-10 firms tumbles over Rs 2.48 lakh cr; Reliance biggest drag
Sensex plunges nearly 483 pts on sell-off in IT, banking stocks
MSME policy, access to global market on agenda of key meeting called by govt
Petrol, diesel prices hiked by 80 paise; rates up by Rs 8 in less than two weeks
Rupee rises 4 paise to end at 76.35 against US dollar
EPFO cuts interest rates to 4 decades low of 8.1 per cent
Axis Bank commits USD 150 mn loan to healthcare sector
New policy to cut green hydrogen cost by 40-50 pc: IOC
Saudi Arabia gives 4% of Aramco to investment fund
SBI expects to recover Rs 8,000 cr from written-off accounts in FY22
Govt contained retail inflation at 6.2 pc despite biggest contraction in economy: Sitharaman
Reliance to buy stake in EV technology firm Altigreen
Sensex climbs over 400 points post RBI policy outcome; Nifty crosses 17,580 points
JK Paper shares jump over 4 pc after earnings announcement
Universal Robots reports record annual revenue of over $300m
Passenger vehicle retail sales 10 pc in Jan as chip shortage continues: FADA
InterGlobe Aviation shares rally over 9 pc on Q3 profit
SBI lines up 6 NPA accounts for sale to ARCs to recover dues of Rs 406 cr
Airtel to spend Rs 1.17 lakh cr on various businesses with subsidiaries over a period of 5 years
Global gold demand rises 10% to 4,021 tonnes in 2021: WGC
Kerala records 558 fresh COVID-19 cases, 74 deaths
 Thiruvananthapuram: Kerala on Thursday recorded 558 fresh infections which raised the total to 65,29  
Kerala records 596 fresh COVID-19 cases, 24 deaths
1,088 COVID-19 cases, 31 deaths in Kerala
covid-19: Kerala reports 5,427 cases on Sunday, active cases drop to 66K
PM Modi to visit Lumbini in Nepal on Buddha Purnima
 Kathmandu: Prime Minister Narendra Modi will travel to Nepal on May 16 for a brief visit to Lumbini,
Police in North Macedonia to deport 44 migrants to Greece
Nomination papers of Sharif, Qureshi approved by NA
Russian aggression targets Europe: Zelenskyy
Mundka fire: Building owner arrested
 New Delhi: The owner of a building in outer Delhi's Mundka where a massive fire claimed the lives of
Adani says not in RS race, turf open in Andhra
Protests In Andhra Pradesh As Jagan Reddy's New Cabinet Takes Oath
"Hate, Violence Weakening Country": Rahul Gandhi
Untitled Page
Rashtra Deepika LTD
Copyright @ 2021 , Rashtra Deepika Ltd.