The United States is the largest importer of Scotch whiskey from the UK. Imports increased by 37 percent to 6.2 billion British pounds. One of the UK’s most successful exports is that of Scotch whisky. The industry contributes billions of pounds to the UK economy and creates thousands of jobs. Scotch exports to all countries are up in 2022.
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With the India-UK Free Trade Agreement becoming a reality, the import duty on Scotch whiskey will be reduced and this will increase the overall sales. The current duty is 150 percent. The duty exemption will also help Scottish whiskey makers to capture the Indian market. One of the main areas of focus for the UK is premium whiskey sales. At present, imports are still only a small part of the Indian whiskey market.
The Indian market is the fifth largest exporter of Scotch. The total export value is 28.2 crore pounds. It is noteworthy that in 2021, exports have increased by 93 percent. France, Singapore and Taiwan are the countries that are just ahead of India in exports.. Another trend in 2022 is that the Asia-Pacific region has overtaken the European Union as the largest regional market for this industry. Apart from India, the Scotch whiskey market has also grown in Taiwan, Singapore and China post-Covid.
