Glenfiddich-maker eyes wider India portfolio as UK FTA cuts Scotch prices
New Delhi, July 22 -- Scottish distiller William Grant & Sons expects lower tariffs under the India-UK free trade agreement (FTA) to make imported Scotch whisky more accessible in India, helping attract new consumers to the category even as it prepares to expand its portfolio beyond its core whisky brands.
"The immediate impact is going to be different state by state, but what is likely to happen is a 7-10% reduction in consumer prices," Kartik Mohindra, managing director, William Grant & Sons India, told Mint in an interview. "It is not going to drastically alter the dynamics altogether, but it is a strong consumer-facing price reduction."
The FTA, which came into force in July, lowers customs duties on Scotch whisky in phases. Mohindr...
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