75% or 150%? Pernod, Diageo Scotch imports stuck in India-UK trade deal dispute

Customs investigators have held dozens of containers of bulk Scotch imported by Pernod Ricard and Diageo, seeking a 150% tariff instead of the reduced 75% duty under the India-UK trade pact. Business Standard reported that the investigators argue bulk Scotch concentrates used to make whisky brands do not qualify for the pact's lower duty. BusinessLine said the commerce ministry has given an assurance, but the issue is not resolved and dozens of shipments are stuck at ports. The Economic Times reported the same detention and the same 150% versus 75% dispute. A tariff is the tax customs charges on imported goods; the India-UK trade pact is the agreement that sets lower duties on many goods traded between the two countries. The outlets do not give the value of the held shipments.

AI summary of what Business Standard, BusinessLine and Economic Times reported. AI can make mistakes. Read the full story on Business Standard