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India-EU FTA Talks on May 12; Will there be trade-off between textiles and alcobev?

The next round of free trade agreement (FTA) talks between India and the European Union is slated from May 12 to 16 and both sides are pushing for early resolution of FTA with the latter seeking reduced tariffs on key exports such as whisky, wine, and automobiles, while India is wanting tariff drop on textiles.

The EU is negotiating on tariffs on cars, whisky and wine to be brought down from 150% to 100%. Away from the EU, Australia was able to negotiate a deal with India for reduced duties for premium wines. However, European exporters opine that India remains one of the toughest wine markets due to state-level excise duties that further raise costs.

India, on the other hand, is pushing for reduced tariff on textile exports. Presently, India is hit by an additional 10% tariff on textile exports, in the absence of an FTA. Bangladesh and Vietnam, strong textile markets, are benefitting, as the former concluded in 2001 an EU-Bangladesh Cooperation Agreement, while Vietnam and EU signed the FTA in 2020.

After an eight-year hiatus, talks between India and the EU resumed in June 2022. The bilateral trade between the two surpassed US$200 billion in 2023. India exported US$75.18 billion in goods and US$31.13 billion in services to the EU, while imports from the EU stood at US$63.44 billion in goods and US$31.35 billion in services.

The Additional Secretary in the Department of Commerce L Satya Srinivas said that the tenth round of talks focussed on areas like market access offers in goods, services, investment. He said, “Both sides have agreed to accelerate efforts to advance the negotiations.”

Not Out: RTD to Hit Pan-India Market Soon

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In a country where cricket is religion, Not Out, a ready-to-drink (RTD) alcoholic beverage is soon going to hit the Indian market, after its inroads in Delhi, Haryana and Uttar Pradesh. Launched by Bored Beverages, Not Out is a 15% ABV beverage with tasting notes of citrus and tart. It is gluten and glycerin free.

Launched by Bored Beverages, Not Out taps into India’s love for bold flavour, epic moments, and the unmatched thrill of staying always in the game. Founded by Anant and Vinayak, two friends who were tired of safe sips and uninspired options, Not Out was born as a rebellion against the bland. The duo envisioned something stronger, edgier, and unmistakably Indian in its attitude.

“We wanted a drink that tastes like the last over in a tight chase – sharp, exciting, and unforgettable,” says Anant.

In India, cricket is not a game you just watch, it is something you feel, celebrate, and live together. From gullies to stadiums, it is a unifier, a conversation starter, and a shared high. Not Out aims to channel that collective energy. It is for the massive, cricket-loving India that knows the joy of a full toss and the magic of staying in play.

Currently making noise across Delhi, Haryana, and Uttar Pradesh, Not Out is gaining cult status among young adults who want more than just a buzz. With expansion plans in the works, this is just the start of a nationwide innings, the company said in a release.

Ajay Devgn and Cartel Bros Debut ‘The GlenJourneys’

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21-Year-Old Single Malt Scotch
Only 600 bottles released
Limited Cask Series to be launched in India in August

Actor and entrepreneur Ajay Devgn has partnered with luxury spirits house Cartel Bros to launch ‘The GlenJourneys Pioneer Edition’, a premium 21-year-old Highland single malt scotch whisky. This exclusive release marks a significant milestone in India’s luxury spirits’ landscape. The Pioneer Edition boasts a robust 48% ABV, presented in an elegantly crafted oak-finished cask with intricate inlay detailing.

This limited release will be available through select travel retail channels worldwide, catering to discerning connoisseurs and collectors. While travel retail prices for the 21-year-old single malt are forthcoming, The GlenJourneys will also offer three non-age statement expressions: Rum Cask, Bourbon Cask, and Sherry Cask. These variants will be priced between ₹7,500 and ₹9,000. This launch underscores Cartel Bros’ commitment to delivering exceptional luxury spirits experiences, further elevating India’s premium whisky segment.

On April 10, Mumbai witnessed the exclusive launch announcement of The GlenJourneys. The limited Pioneer’s Edition provides an exclusive chance for a select few to own a piece of whisky history before it arrives in India.

India Launch – The Cask Series to Follow

While the flagship 21-year-old single malt debuts globally, Indian whisky lovers can look forward to the brand’s Cask Series, scheduled for release in August 2025. This special collection of cask-aged single malts will highlight the unique finishes and expressions designed specifically for the Indian market. Further details on the cask types, its expressions, tasting notes, and limited edition bottlings are expected to be revealed by the end of August.

“The GlenJourneys is a culmination of passion and artistry, a tribute to the untamed spirit of the Highlands,” said Mokksh Sani, Founder of Living Liquidz, Mansionz, and Co-founder of Cartel Bros. “We’ve poured our hearts into creating a collection that transcends the ordinary, offering a truly exceptional tasting experience.”

From the first sip to the lingering finish, each moment with The GlenJourneys is an expedition of flavour. Driven by the expertise of Cartel Bros, the makers of The Glenwalk Scotch Whisky and the leadership of co-founders Mokksh Sani, Jitin Merani, Rohan Nihalani, Manish Sani, and Chief Business Officer Neeraj Singh. The GlenJourneys, crafted in the Scottish Highlands, is a 21-year-old single malt aged exclusively in hand-selected American oak casks. It opens with velvety vanilla sweetness and ripe fruit, leading into a palate that is silky, layered, and luxuriously mellow. The journey concludes with a long, lingering finish, where subtle whispers of smoke remind you of the untamed wilderness from which it was born.

“Bringing The Glen Journeys 21‑year‑old Highland single malt to life has been a journey of passion and precision,” said Ajay Devgn. “Every detail of the brand reflects our commitment to craftsmanship and excellence. With this collaboration with Cartel Bros, we offer an exceptional whisky to connoisseurs worldwide, starting with the introduction of the 21-year-old single malt whisky in travel retail channels across the world.”

Cartel Bros is force to reckon with in the world of fine spirits, pushing boundaries, redefining luxury, and elevating whisky culture. With the success of The Glenwalk, they have established themselves and have activated operations in over 50 cities across 12 Indian states, with a growing presence in the Middle East, Australia, New Zealand and Canada, with rapid expansion plans in other international regions soon.

92 Liquor Firms Eye Telangana Market Boom

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Telangana’s alcohol market is set for expansion as 92 liquor companies have applied to launch 604 new brands in the state. The applications were submitted to the Telangana Beverages Corporation Limited (TGBCL), which had issued a call on February 23 inviting both domestic and international suppliers to introduce new variants of Indian Made Foreign Liquor (IMFL) and beer.

Initially, the deadline for submissions was March 15, but it was extended to April 2 by prohibition and excise commissioner C. Hari Kiran, after several companies requested more time to meet updated documentation requirements under the state’s revised liquor policy.

As per reports a total of 604 proposed brands have applied, of which 331 are IMFL variants while 273 are foreign liquor brands. Notably, 47 companies applying for the first time in Telangana accounted for 386 of these applications. The remaining 218 brand proposals came from 45 existing suppliers already operating in the state.

Excise department officials confirmed that every application will undergo detailed scrutiny to ensure compliance with the state government’s updated liquor guidelines. Only those meeting all regulatory norms will receive final approval.

The large number of applications reflects the growing demand and competitive interest in Telangana’s liquor sector. With TGBCL controlling distribution, the State aims to expand the variety of alcoholic beverages available to consumers while maintaining regulatory oversight.

Kerala’s New Liquor Policy, Open to More Distilleries, Breweries

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The Kerala government has announced that it would allow for the establishment of distilleries, breweries and spirit manufacturing units as to check import of liquor from other states. The new policy has several concessions for production and distribution of liquor, in the state’s bid to increase revenues from excise.

Under the new policy, now liquor sale can happen in industrial parks. In 2022-23, the Kerala government had allowed liquor permits in IT parks. Another concession it has granted is to give a special one-day permit on dry days. Hotels with three stars or more, along with heritage and classic resorts, now can apply for a one-day permit to serve liquor on the first day of the month for business meetings, international conferences, and other gatherings. No permission is granted on other dry days.

As per media reports, the government had granted permission to set up a liquor manufacturing centre in Elappully, Palakkad and a controversy had erupted. Now the government is planning to be lot more liberal in allowing breweries and distilleries across the state. The new liquor policy builds on the previous year’s guidelines of allowing the establishment of distilleries and units for manufacturing extra neutral alcohol (spirits).

Kerala in 2023-24 had generated a revenue of ₹31,618.12 crore from alcohol and sale of lottery tickets, accounting for one-fourth of the total revenue of the state. Revenue from alcohol sales amounted to ₹19,088.86 crore, making it the larger of the two main sources. Income from lottery sales was recorded at ₹12,529.26 crore. These figures combined account for approximately 25.4% of state’s total income.

Trump The Economic Disruptor

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• Impacts Alcobev Sector

• Economic Uncertainty Prevails

The second term of Donald J. Trump as the United States President which began early this year has disrupted the world economic order. Trump’s sweeping tariffs on imports from almost all countries, including the US’s allies, has led to an international trade war, the ramifications of which are being felt in the stock markets, in trade disruption and creating economic uncertainty globally.

However, on April 9, under severe pressure from the bloodbath in the global stock markets and world leaders criticizing his move, Trump has paused for 90-days most of his exorbitant tariff hikes to 57 countries but with a baseline tariff of 10% while going aggressive on China by imposing an astounding 125% tariff.

India termed ‘Tariff-King’

As regards India, which is one of the US’s biggest trading partners in Asia, Trump has imposed a ‘discounted’ reciprocal tariff of 26%, while calling India the ‘tariff king’. Trump has claimed that the reciprocal tariff is aimed at countering unfair trade practices. The 26% tariff came into effect from April 9. Though he claimed that the Prime Minister, Narendra Modi is a great friend of his, Trump said India was charging 52%, while the US was charging almost nothing.

India subsequently slashed duty on bourbon whiskey from 150% to 100%, making the Indian liquor manufacturers take up the issue. The Director General of the Confederation of Indian Alcoholic Beverage Companies (CIABC), Anant S. Iyer said the Indian alcoholic beverage industry is already at a disadvantage compared to manufacturers from developed countries due to high capital and operational costs, evaporation losses, and restrictive licensing regimes. He said, “The government needs to safeguard the interests of Indian liquor manufacturers when deciding on issues related to customs duty cuts and other concessions under FTAs.” The CIABC wanted the state governments to withdraw all excise concessions given to imported liquor, arguing that the customs duty cuts announced would harm Indian products in both the spirits and wine categories.

Bilateral Trade

The bilateral trade between India and the US was pretty balanced at 10.73% till the Trump disruption. America accounted for about 18% of India’s total goods exports, 6.22% in imports with about 30 sectors (6 in agriculture, 24 in industry) exporting to the US. As regards alcohol, wine and spirits, the tariff hike at 122.10% has come into effect. As per the data from the Export Import Data Bank (EIDB) of the Ministry of Commerce & Industry, in FY24, India imported spirits worth $23.09 million against exports of only $8.03 million with companies such as Radico Khaitan, Amrut Distilleries, Piccadilly Industries, being the prominent ones.

The concern among Indian companies is that lower import duties might push the prices of premium liquor down, thus making Indian premium liquor face stiffer competition. However, at a panel discussion organised by Ambrosia during INDSPIRIT 2025, the Secretary General of the International Spirits and Wines Association of India (ISWAI), Suresh Menon clearly stated that there was need to rationalise the tax structure, while agreeing that the Indian import duties on spirits was exceptionally high.

Scotch Whisky Association ‘disappointed’

Globally, the tariff war is impacting almost all sectors, including the alcobev sector. The Scotch Whisky Association expressed disappointment with Trump’s tariff moves. With Trump announcing import duties, including a 10% levy on all UK goods and a steeper 20% rate for imports from the European Union, taking effect on April 5, the alcobev sector was going to be adversely impacted. “The move, one of the most aggressive protectionist measures in recent years, has sparked concern across multiple sectors, including scotch whisky producers. A spokesperson for the Scotch Whisky Association said,”The industry is disappointed that Scotch Whisky could be impacted by these tariffs. We welcome the intensive efforts by the UK government to reach a deal with the US administration, and we continue to support this measured and pragmatic approach towards a mutually beneficial resolution.”

Wine sector concerned

It is not just the Scotch whisky producers who are worried, even the bourbon industry from the US is. The bourbon industry which is the backbone of Kentucky economy fears that it may get caught in the crossfire of the trade war, if other countries impose tariffs on American whiskey. There has been a lot of noise on how in the short-term Scotch whisky and European wines may become that much costlier. France’s Bourgogne Wine Board (BIVB) has said that the levies have “pushed our wines past a psychological price threshold”. French wines are subject to 20% tariffs under the new tariff rates.

The IWSR, in its analysis, has said that the new import tariffs will have serious consequences for beverage alcohol in the US, but the exact picture is complex, nuanced and subject to a host of uncertainties.

The IWSR said that with tariffs introduced on imports from Canada and Mexico and potential EU tariffs in discussion, a number of single origin beverage alcohol categories are most at risk – products with a legally protected designation of origin, meaning that they cannot be “re-shored” and produced in the US. These include agave spirits, Canadian whisky, Irish whiskey, Cognac, Champagne and Prosecco. Mexican beer imports would also be affected. The UK is trying to negotiate a separate trade deal with the US to head off tariffs to cover categories such as Scotch whisky.

“The second Trump Administration’s policies on tariffs will almost certainly be net negative for total beverage alcohol (TBA) in the US market, with global implications likely to be more limited, but there is major uncertainty about the extent of the impact,” says Marten Lodewijks, President IWSR US.

spiritsEUROPE deeply disappointed over EU announced Tariffs on US Whiskey & spirits

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spiritsEUROPE has said that it is extremely concerned by the announcement of the European Union on rebalancing tariffs on US whiskey and other US spirits categories in response to US tariffs on steel and aluminium. It has urged the EU and the US to keep spirits out of unrelated disputes.

The announcement comes at a particularly difficult time for the spirits sector, amidst geopolitical tensions and a marked slowdown in many key markets. If implemented on 1 April, these tariffs will have a hugely damaging impact on the EU companies that produce US spirits, US companies that are heavily invested in Europe and all actors in the value chain, putting at risk the many jobs they support, including in rural areas.

“Yet again, spirit drinks have become collateral damage in an unrelated trade dispute. As highlighted in our numerous engagements with the European Commission over the last seven years, we fail to understand how this will help with the broader, unrelated dispute on steel and aluminium. The EU and US spirits sectors stand united in their steadfast commitment to maintaining transatlantic spirits trade tariff-free,” said Pauline Bastidon, Trade & Economic Affairs Director at spiritsEUROPE.

The 1997 reciprocal zero-for-zero agreement that eliminated tariffs on spirits led to a remarkable 450% growth in transatlantic trade until 2018, before retaliatory tariffs were first introduced. Their return would have devastating consequences for the sector and put at risk the strong transatlantic trade & investment flows that have benefitted both sides and created so many interconnections on both sides of the Atlantic.

“The clock is ticking. We urge the EU and the US to keep spirits out of unrelated disputes while they work on resolving their differences and protecting the vitally important transatlantic trade relationship,” she said.

Indri’s Winning Streak Continues

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Piccadily Agro Industries Limited has once again made a resounding mark on the global whisky stage, winning six prestigious medals at the World Whiskies Awards 2025. The company’s flagship brand Indri Single Malt with its exclusive expressions, emerged victorious across various categories, reinforcing Piccadily Distilleries position as a trailblazer in the Indian and international whisky landscape.

Indri secured an impressive lineup of awards. They included Indri Founder’s Reserve Wine Cask 11 Years Old, 58.5% ABV (12 years and under – small batch) – Winner; Indri Refill Oloroso Sherry Cask Single Cask 03, 58.5% ABV (No Age Statement) – Winner; Indri 2024 Diwali Collector’s Edition, 58.5% ABV (No Age Statement – small batch) – Silver; Indri Game of Thrones: House of the Dragon Exclusive Edition – House of Black, 46% ABV, (No Age Statement) – Silver; Indri Ex Sauternes Wine Cask Single Cask 47050, 58.5% ABV, (No Age Statement) – Silver; and Indri Game of Thrones: House of the Dragon Exclusive Edition – House of Green, 46% ABV (No Age Statement) – Bronze.

Since its launch, Indri has taken the international whisky scene by storm, challenging industry norms with innovative expressions that celebrate India’s terroir and expertise. With each award and accolade, Indri has established itself as more than just a brand—it’s a symbol of national pride and a testament to the potential of Indian single malts.

Shalini Sharma, Head of Marketing, Piccadily Agro Industries Limited said, “Indri’s journey has been nothing short of groundbreaking, and we are incredibly proud of these remarkable wins at the World Whiskies Awards 2025s. This recognition is a true testament to our relentless pursuit of excellence and our vision to firmly establish Indian single malts on the global whisky stage. Being recognised on such a prestigious international platform is not just a victory for Indri, but a triumph for Indian single malts as a whole. We are reshaping global perceptions, proving that Indian single malts can set world-class benchmarks and stand shoulder-to-shoulder with the finest whiskies across the globe.”

India-US Trade: Reciprocal Tariff Not Yet Imposed

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The Minister of State for Commerce and Industry, Jitin Prasada has said in the Lok Sabha that the United States under the Trump administration has not yet imposed reciprocal tariffs and that both countries were planning to negotiate a trade agreement, focussing on increased market access, reduction of import duties and removing non-tariff barriers.

In a written reply to the Lok Sabha, the Minister said, “Both countries plan to negotiate a mutually beneficial, multi-sector Bilateral Trade Agreement. Both countries would focus on increasing market access, reducing tariff and non-tariff barriers, and enhancing supply chain integration.”

Confirming the same, the Commerce Secretary Sunil Barthwal informed the Parliamentary Standing Committee on External Affairs that negotiations between the two nations are still on and no agreement on trade tariffs has been reached so far. Barthwal briefed the committee, headed by Congress MP Shashi Tharoor, and said that bilateral trade agreement talks between the two nations are still on.

When members of the committee asked why India was not raising its voice against tariffs, as done by Canada and Mexico, he said the two were not comparable as the US had security concerns and border immigration issues with them.

It is reported that the Commerce Secretary assured the committee that India will sign a “mutually beneficial agreement”. He said India will protect any industry which is crucial to its domestic economy, saying that developing countries cannot lower their tariffs on everything.

It must be mentioned here that soon after Donald Trump took charge as President of the US, the US government issued Memorandum on Reciprocal Trade and Tariffs, wherein the Secretary of Commerce and United States Trade Representative were to take necessary actions to investigate harm to America from any non-reciprocal trade arrangements adopted by trading partners and provide a report with detailed proposed remedies for each trading partner.

Prasada also said that India continues to engage with the US to achieve enhancement and broadening of bilateral trade ties in a mutually beneficial and fair manner. “This is an ongoing exercise and Indian exporters are working towards diversifying trade baskets and export destinations.”

In 2023-24, India exported engineering goods worth USD 17.62 billion. The other major goods included electronics (USD 10 billion), gems and jewellery (USD 9.9 billion), petroleum products (USD 5.83 billion), textiles (USD 4.7 billion), marine products (USD 2.5 billion). During 2021-24, America was India’s largest trading partner. The US is one of the few countries with which India has a trade surplus. Trump had said, “India charges us massive tariffs, massive you can’t even sell anything in India. It’s almost… it is restrictive. You know, we do very little business inside. They have agreed, by the way. They want to cut their tariffs way down now because somebody’s finally exposing them for what they have done.”

Radico Khaitan, eyeing ₹500 crore from premium brands

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Radico Khaitan expects sales of ₹500 crore from its luxury brands in the next fiscal, according to its Managing Director Abhishek Khaitan. The premium brands are the famous Indian single malt ‘Rampur’ and the artisanal gin Jaisalmer Indian craft gin. The company has plans to add to more brands in the next fiscal.

The company has been experiencing robust sales and expects 8 to 9% growth in volumes and by 12 to 15% in terms of value. The prestige and above segments have been registering double digit growth and the company expects to close in the same range of about 15%.

Radico Khaitan’s luxury portfolio consists of Rampur Indian Single Malt, Jaisalmer Indian Craft Gin, Sangam World Malt and Spirit of Victory 1999 Pure Malt. “For the first time in Q3 (December quarter) we achieved a turnover of ₹100 crore (from premium) and for the nine months of FY’24, we have achieved ₹250 crore (turnover). We are very confident that for FY’26, Radico Khaitan should achieve ₹500 crore of turnover, just for the luxury segment only,” said Khaitan.