Business

Happy Hours! UK FTA drops scotch prices in India

By Sohail Khan 30 September 2026, 1:32 am

Benchmarks
Nifty22,716.20-64.05

FEATURED FUNDS★★★★★

Motilal Oswal Midcap Fund Direct-Growth

5Y Return
20.35 %

Invest Now

Enter search text:

Business News›Industry›Cons. Products›Liquor›Happy Hours! UK trade pact brings scotch prices down in India

Read Today's Paper

Happy Hours! UK trade pact brings scotch prices down in India
Synopsis

Scotch prices in India have decreased significantly for the first time following the India-UK free trade agreement. Major brands like Johnnie Walker Black Label and J&B are experiencing price reductions in various states. The agreement has halved the tariff on British whisky, leading to these lower prices. Companies are working to submit proposals for price adjustments in other regions as well.

At present, Scotch whiskey, imported from the UK - both in bottled and bulk - is taxed at around 150 per cent in India. — Scotch prices in India have decreased significantly for the first time following the India-UK free trade agreement

Mumbai: Scotch prices in India have fallen 10-15% for the first time since the India-UK free trade agreement took effect and Diageo and Pernod Ricard began passing lower import costs to consumers in key states. The cuts to brands including Johnnie Walker Black Label and J&B are already visible in Maharashtra, Rajasthan, Goa and Uttar Pradesh, with more states expected to follow.

Pernod Ricard has applied to the government for price cuts for brands including Chivas, Ballantine's and The Glenlivet, industry executives said.

Also Read: Scotch at a discount post UK FTA is only half the story for India's whisky market

The reductions are the first significant consumer pricing response by the two biggest Scotch makers since the trade pact took effect on July 15, offering an early test of how much of the tariff savings will reach India's whisky drinkers. "The UK FTA will have an impact on the existing prices being offered by bottled-in-origin brands. This could lead to a shift in the competitive dynamics for other whiskies, including Indian single malts," said Sandeep Arora, founder of Spiritual Luxury Living.

"Price differences, the entry of new whiskies, and availability will be key factors for the Indian market," he said.

ET Bureau

On the rocks

The companies had to submit price-reduction proposals to state excise authorities, along with proof that the whiskies originated in the UK, before revised prices could be approved. Some states have cleared the proposals, people familiar with the matter said.

Diageo's 750-ml Johnnie Walker Black Label is now selling at about ₹3,800, down from ₹4,250, while J&B is around ₹1,700, compared with ₹2,300 earlier, industry sources said.

The India-UK agreement cut the tariff on British whisky to 75% from 150%, effectively halving the tariff rate, with a further reduction to 40% over 10 years. That does not translate into an equivalent fall in retail prices because import duty is only one component of the final price, alongside state excise duties, taxes, distribution costs and margins.

Also Read: Radico Khaitan flies Rampur, Sangam whiskies into Scotch’s backyard

Diageo had earlier estimated that prices of its bottled-in-origin Scotch portfolio could fall by about 7-9% on a nationally weighted average basis. The larger cuts in some states reflect state-specific pricing structures and commercial decisions, rather than direct tariff reduction.

ET Bureau

Scotch faces narrowing prices

The changes could intensify competition across India's premium whisky market, including for Indian single malts such as Amrut, Paul John and Rampur, as the price gap with imported Scotch narrows.

"While we have considered repricing to compete with these brands, we will have to wait till after the festive season to get a clearer picture of the market," said Rakshit Jagdale, company chief, Amrut Distilleries.

The initial cuts are being rolled out in some of India's biggest whisky markets. Maharashtra and Uttar Pradesh are among the largest whisky-consuming states, while Maharashtra and Haryana are key Scotch markets.

Pernod Ricard CEO Alexandre Ricard said in August that his company would use the agreement to make its brands "more relevant and more affordable to consumers", while introducing new Scotch propositions and accelerating innovation from Britain.

Add as a Reliable and Trusted News Source
Add Now!

(You can now subscribe to our WhatsApp channel)

(Catch all the Business News, Breaking News and Latest News Updates on The .)

…moreless

(You can now subscribe to our WhatsApp channel)

Read More News on
Scotch whisky price reductionDiageoPernod RicardIndian whisky marketJohnnie Walker price droppremium whisky competitionwhisky consumer trends

(Catch all the Business News, Breaking News and Latest News Updates on The .)

…moreless

Enter search text:

Continue reading with one of these options:
Limited Access
Free
Login to get access to some exclusive stories

& personalised newsletters
Login Now

Unlimited Access
Starting @ Rs120/month
Get access to exclusive stories, expert opinions &

in-depth stock reports
Subscribe Now

Unlock Access to All Exclusives with ETPrime FREE TRIAL

15 Days Free: Unlock All ETPrime Exclusives, Market Tools & ePapers

Trial offer expiring in00 : 05 : 00

I'd rather pay ₹2599 now

Uh-oh! This is an exclusive story available for selected readers only.

Worry not. You’re just a step away.

Prime Account Detected!

It seems like you're already an ETPrime member with

Log out of your current logged-in account and log in again using your ET Prime credentials to enjoy all member benefits.

Unlock ETPrime's Exclusive Stories Today!

Subscribe to gain powerful insights on business, stock market and industry trends.

Big Price Drop! Flat 40% Off

Student Only Offer

Already a Member? Sign In now

Already a Member? Sign In now
Already a Member? Sign In now

Offer Exclusively For You

Save up to Rs. 700/-

ON ET PRIME MEMBERSHIP

Avail Offer

Offer Exclusively For You

Get 1 Year Free

With 1 and 2-Year ET prime membership

Avail Offer

Offer Exclusively For You

Get 1 Year Free

With 1 and 2-Year ET prime membership

Avail Offer

Offer Exclusively For You

Get Flat 40% Off

Then ₹ 1749 for 1 year

Avail Offer

Offer Exclusively For You

ET Prime at ₹ 49 for 1 month

Then ₹ 1749 for 1 year

Avail Offer

Special Offer

Get flat 40% off on ETPrime

Avail Offer
Avail Offer

Claim NowAlready a Member? Sign In now

Need Assistance?

Connect with an ETPrime expert for personalized support and guidance

+91 9484700004

' + h3 + '

' + h4 + '

' + listing + '

What’s Included with

ETPrime Membership

1Exclusive Insights That Matter

Uncover the truth with our investigative stories

Make strategic moves using the real-world case studies

Read industry-specific stories to identify emerging trends

Spot opportunities with in-depth insights that matter

Trump temper on H-1B visas is forcing Indians to do these things to stay put in US

What Adani’s US indictment means for India Inc’s overseas fundraising
Why veterans like Reliance, L&T are on acquisition spree? Aswath Damodaran has an answer.

Will China’s dollar bond sale in Saudi Arabia trump the US in financial world?
Huawei launches its own OS to compete with Google and Apple. But can it win beyond China?

The problem with lab grown diamonds
Why a falling rupee is a better option for the economy

A list of top 20 momentum stocks that have delivered massive returns in one year