Termed as the 'mother of all deals', India-EU trade deal has become the talking point once again after PM Modi mentioned about it during his speech in Jalandhar. PM Modi during his visit to Dera Sachkhand Ballan in Jalandhar on February 1 announced that with India's trade deal with the European Union, industries of Punjab can sell their product in 27 European countries by paying almost negligible tax.
Prime Minister specially mentioned Jalandhar's Sports Industry and Ludhiana's Textile industry to buckle up to sell their products in Europe and ensure quality of the products remain at its peak.
Notably, the trade deal is beneficial for not only beneficial for India but also for the European Union. The deal has been done in the backdrop of US President Donald Trump's imposing tariffs on the EU and also expressing his wish to take over Greenland.
One of the major key aspect of the deal is that the European liquor brands that are being sold in India will become cheaper.
According to reports, the trade will see the European Union slash tariffs on 99.5% of traded goods over a seven-year period. Tariffs will be reduced to zero on a wide range of Indian exports, including marine products, leather and textiles, chemicals, rubber, base metals, and gems and jewellery.
On the other hand, India will significantly reduce tariffs on premium wines will up to 20% from the current 150%, while duties on mid-range wines will be reduced to 30%.
Other alcoholic categories, including beer and spirits, will also benefit. Currently subject to tariffs of up to 150%, spirits will face a reduced duty of 40% once the FTA comes into force.
Beer, which is particularly popular among younger consumers, will see tariffs cut to 50% from the existing 110%.
Hence, it can be said that in the coming time, Europeans Whiskey, Vodka, Gin, Rum, and Beer will get cheaper in India.
Wines
Château Pétrus (Bordeaux, France)
Château d’Yquem (Sauternes, France)
Vega Sicilia Único (Ribera del Duero, Spain)
Bordeaux & Burgundy Reds/Whites (France)
Champagne (France)
Barolo & Barbaresco (Piedmont, Italy)
Whiskey
Jameson
Tullamore D.E.W.
Bushmills
Mackmyra
Stauning
Vodka
Absolut - Swedish
Grey Goose - French
Belvedere - Polish
Ketel One - Dutch
Cîroc - French
Wodka Gorbatschow - German
Beer
Hoegaarden (Belgium)
Stella Artois (Belgium)
Beck’s (Germany)
Heineken (/Dutch)
Erdinger (Germany)
Paulaner (Germany)
Amstel (Netherlands)
1664 Blanc (France)
Murphy’s Irish Stout (Ireland)
