Asia Bizz: The latest figures from the Scotch Whiskey Association (SWA) have stated that despite the high import tariff, Scotch whiskey imports in India has increased. A 30 percent increase by volume has been noticed in the year 2011 compared to the figures of that in 2010.
In recent times, the Scotch Whiskey industry has been looking forward to the reduction of high import tariffs in India. The officials of the SWA hope that the free trade agreement between the European Union and India is likely to be signed this year. This will help in the further increase of exports.
In the year 2011, 15.7 million litres of scotch whiskey was exported to India. On the other hand, the figures were just 12.1 million litres in the year 2010. This showed a hike of 30 percent in imports.
Gavin Hewitt, the SWA chief executive, stated that the Indian market was a priority for the industry. Hewitt added that securing fair market access and reducing the tariffs is a priority for the industry. It has also been noticed that in the past four years, the Scotch whiskey industry has invested more than one billion pounds to enlarge the capacity in the distilleries so as to meet the growing demand in emerging and more mature markets like the US and France.