Amid the threat of imposing tariff (Trump Tariff Threat) by US President Donald Trump, the Indian government has reduced the import duty on Bourbon whiskey from 150% to 100%. Along with this, tax has also been reduced on many types of wine. Import duty on wine made from fresh grapes, vermouth and some other fermented beverages has also been reduced to 100%. Not only this, the same rate will be applicable on pure ethyl alcohol with 80% alcohol. In the last financial year, the total import of all these products was about 1 billion dollars. That is, the government had received crores of dollars in the form of import duty. But now the government will suffer a loss from this. Talking about Bourbon whiskey, the basic custom duty on it has been fixed at 50%. Apart from this, an agricultural cess of 50% will also be levied on it. However, there has been no reduction in the original custom duty on the import of other liquors. 100 percent tariff will continue to be levied on them. Well, let us tell you that last year the import of two tariff lines related to bourbon was about 2.6 million dollars while its import from America was 0.8 million dollars.
America will impose reciprocal tariff (Trump Tariff Threat) so that American industry remains competitive
The important thing to note is that this reduction in import duty was notified a few hours before the meeting of Prime Minister Narendra Modi and Trump on Thursday. The most discussed topic in this meeting was tariff. Before the meeting with Modi, Trump reiterated that “he will impose reciprocal tariff (Trump Tariff Threat) so that American industry remains competitive. That is, America will impose the same tariff on the countries which impose tariff on American goods as much as they do on them.” Just before meeting Modi, Trump also said that “India is one of the countries imposing the highest tariff in the world.” The meaning is clear that America will impose a tit for tat tax so that American companies do not suffer losses. Meanwhile, Trump said that “India imposes the highest taxes in the world.” Let us tell you that a few hours before the meeting of President Donald Trump and Prime Minister Narendra Modi in America, the Indian government has issued a notification and reduced the import duty on Bourbon whiskey and some special types of wine. Let us tell you that in the budget presented on February 1, the government had reduced the import duty on many products.
This step was taken to avoid increasing pressure on tariffs (Trump Tariff Threat)
It is worth noting that expensive bikes like Harley Davidson were also included in it. Actually, this step was taken to avoid increasing pressure on tariffs (Trump Tariff Threat). But despite this, Trump also gave the example of Harley Davidson during a conversation with the media. This shows that even after reducing the tax, America is not happy. America wants India to impose less tax on its goods so that more and more people buy and American companies benefit. In this meeting, India and America have resolved to more than double the bilateral trade to 500 billion dollars by 2030. It is worth noting that the US is the leading exporter of Bourbon whiskey to India and about one-fourth of all such liquor imported into India comes from the US. India imported Bourbon whiskey worth about $2.5 million in 2023-24. Its major exporting countries include UAE, Singapore, the US and Italy.
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Bourbon whiskey is produced in the US state of Kentucky
Talking about Bourbon whiskey, it is a type of American whiskey. It is made exclusively from corn. It is prepared using traditional methods and tastes sweet and smooth. It is mainly produced in the US state of Kentucky. Not only this, it is most preferred in the US as Kentucky Bourbon. Apart from this, storing it in oak barrels makes it taste sweet, smoky and vanilla-like. According to US law, no additives or flavorings can be added to Bourbon.
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