America’s Bourbon Whiskey Gets Sweet Deal As India Slashes Tariffs From 150% To 50%

America’s hottest bourbon whiskey, recognized for its trace of sweetness, has bought a candy deal in India. Hours earlier than PM Modi held bilateral talks with US President Donald Trump, the place the 2 leaders mentioned commerce and tariffs amongst a number of points, India slashed import responsibility on bourbon whiskey by as a lot as 66.6 per cent – successfully making it one-third the fee it’s at present.

Within the days and weeks main as much as the important thing assembly between the 2 world leaders, India warmed as much as negotiating mega commerce offers with the US by asserting important tariff cuts on a number of US merchandise as a gesture of selling commerce.

The huge drop in customs responsibility on bourbon whiskey – from 150 per cent to 50 per cent – was notified on February 13 by the Division of Income. The discount in tariffs nonetheless, is particularly for bourbon whiskey. All different imported alcoholic drinks will proceed to draw 100 per cent import responsibility.

American bourbon whiskey accounts for as a lot as one-fourth or 25 per cent of all such liquor imports in India. In 2023-24, India imported bourbon whiskey value USD 2.5 million. The main exporting international locations embody the US (USD 0.75 million), UAE (USD 0.54 million), Singapore (USD 0.28 million) and Italy (USD 0.23 million).

At a press briefing at the beginning of his assembly with Prime Minister Narendra Modi, US President Donald Trump stated “Prime Minister Modi is a superb chief,” including that “We will make some great commerce offers for India and the US.”

The 2 leaders held one other press convention instantly after the bilateral talks the place commerce for top on the agenda. On being requested by a reporter about who’s a more durable negotiator, Donald Trump stated, “He (PM Modi) is a a lot more durable negotiator than me and he’s a a lot better negotiator than me. There may be not even a contest.”

In a joint assertion issued by each international locations, India and the US have pledged to greater than double the two-way commerce to USD 500 billion by 2030 and introduced plans for a bilateral commerce settlement with a view to convey down duties and enhance market entry in each nations.

WHAT IS BOURBON WHISKEY?

Bourbon is a sort of American whiskey which is constructed from corn. It’s recognized for its gentle candy style. Aged in charred oak barrels, bourbon is made with no less than 51 per cent corn – that is what offers it its distinct flavour. Similar to how Scotch whiskey can technically solely be made in Scotland, bourbon whisky can also technically be made solely in the USA.

In 1964, Bourbon was recognised by the US Congress as a “distinctive product of the USA.” The biggest bourbon distillers in the USA are from the states of Kentucky and Tennessee.

Main manufacturers of bourbon whiskey which can be found in India embody, Jack Daniel’s, Jim Beam, Woodford Reserve, Maker’s Mark, Gentleman Jack, and Outdated Forester.