<p>New Delhi: India has slashed import duty on bourbon whiskey to 50 per cent as it warmed up to negotiating a mega trade deal with the US.</p>.<p>The reduction in customs duty on bourbon whiskey was notified on February 13 just ahead of Prime Minister Narendra Modi's talks with US President Donald Trump.</p>.<p>However, there has been no reduction in basic customs duty on import of other liquors. They would continue to attract 100 per cent duty.</p>.<p>The US is the primary exporter of bourbon whiskey to India accounting for about one-fourth of all such liquor imported into India.</p>.Reciprocal tariffs by US may not hurt India much: GTRI.<p>As per the notification issued by the Department of Revenue, bourbon whiskey would now attract 50 per cent customs duty on its import.</p>.<p>It was 150 per cent earlier.</p>.<p>India has imported bourbon whiskey worth $2.5 million in 2023-24. The major exporting countries include the US ($0.75 million), UAE ($0.54 million), Singapore ($0.28 million) and Italy ($0.23 million).</p>.<p>India and the US have resolved to more than double the two-way trade to $500 billion by 2030 and announced plans for a bilateral trade agreement with a view to bring down duties and increase market access. </p>
<p>New Delhi: India has slashed import duty on bourbon whiskey to 50 per cent as it warmed up to negotiating a mega trade deal with the US.</p>.<p>The reduction in customs duty on bourbon whiskey was notified on February 13 just ahead of Prime Minister Narendra Modi's talks with US President Donald Trump.</p>.<p>However, there has been no reduction in basic customs duty on import of other liquors. They would continue to attract 100 per cent duty.</p>.<p>The US is the primary exporter of bourbon whiskey to India accounting for about one-fourth of all such liquor imported into India.</p>.Reciprocal tariffs by US may not hurt India much: GTRI.<p>As per the notification issued by the Department of Revenue, bourbon whiskey would now attract 50 per cent customs duty on its import.</p>.<p>It was 150 per cent earlier.</p>.<p>India has imported bourbon whiskey worth $2.5 million in 2023-24. The major exporting countries include the US ($0.75 million), UAE ($0.54 million), Singapore ($0.28 million) and Italy ($0.23 million).</p>.<p>India and the US have resolved to more than double the two-way trade to $500 billion by 2030 and announced plans for a bilateral trade agreement with a view to bring down duties and increase market access. </p>