Tariff reduction on alcoholic beverages in future FTAs needs to be carefully designed: ICRIER study

“High import tariffs and cess of 150%, even for intermediate products, counters the basic premise of “Make in India”. The government should focus on phased tariff and other duties reduction and Indian companies should be encouraged to export to improve the trade balance,” a team of researchers headed by ICRIER professor Arpita Mukherjee said in a study titled “Developing Principles for regulation and pricing of alcoholic beverages sector in India.”

The FY22 Budget brought down the basic customs duty (BCD) to 50%. However, it introduced an Agriculture Infrastructure…