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NDTV
8 hours ago
- Business
- NDTV
How Much Cheaper Will Whiskey Be After India-UK Free Trade Deal: 10 Points
New Delhi: The India-UK Free Trade Agreement (FTA) will lead to a reduction in prices of scotch whiskey, but not to such an extent that it would reshape the market. The price cuts are highly dependent on the pricing mechanism of every state. Here's your 10-point cheat sheet on whiskey prices States may tweak ex-distellery prices and excise duty rates to maintain excise collections as they form a major part of states' revenue. Multinational companies may reduce billing prices by mid-high single digits for 6-12 months, then bring them back up. In the premium segment in which the prices start from Rs 3,500 per bottle, brands like Johnie Walker, Black Label, and Chivas REgal 12 Years may cost less by Rs 200-300 per bottle. In the standard segment, which is between Rs 1,700 and Rs 2,000 per bottle, brands like Red Label and Ballantine's may cost less by Rs 100-150. The tariff cuts will not be able to change market dynamics since the price difference with the next lower segment, i.e. bottled-in-India is not much. The brands in the bottled-in-India segment, which costs around Rs 1,500 per bottle, include Teachers, Black Dog, and Black and White. This is a category of whiskey that was created in India owing to high custom duties. The brands bottled locally use scotch imported in bulk in concentrated form and diluted and packaged in India using local material. Since tariffs have been slashed, production and bottling of these brands could move to the UK. In the UK, whiskey has better scale efficiency, automation in production, thereby offsetting production costs. "Most Indian whisky producers import Scotch whiskey to use for blending with domestic whiskies. Reduction in customs duty will help bottomlines of these Indian producers," said Vinod Giri, liquor trade expert and director general of Brewers Association of India. "Since these whiskies are mostly sub Rs 1,000 per bottle, their competitive price position will not be affected by any reduction in consumer prices of imported scotch," he said. Since the UK itself is not a major whiskey market, the gains to Indian manufacturers, whatever be the terms, is going to be very limited. Hence, stripped of all noise, all the UK-India FTA will do for the whiskey industry is to help the bottomlines of companies. Consumers should not expect to see much change. FTA will not dramatically reshape the Indian whiskey market, but will open new big business vistas for Indian producers, Mr Giri said.
Time of India
08-07-2025
- Time of India
NDPL smuggling causes Rs 300 crore revenue loss to Telangana Exchequer
HYDERABAD: A thriving underground network of non-duty paid liquor (NDPL) smugglers is working in tandem with private event organisers, causing an estimated ₹300 crore annual loss to the state exchequer. A recent crackdown by the excise department has unravelled the scale, sophistication, and spread of this illegal trade, particularly within the GHMC limits. In the past three weeks alone, excise officials have stumbled upon multiple NDPL smuggling routes, primarily from Haryana, Goa, and Karnataka, where liquor taxes are significantly lower than in Telangana. Liquor meant exclusively for defence canteens and even customs duty-free bottles meant for inbound air passengers are being illegally diverted to high-paying clientele, often through private parties and event circuits in Hyderabad. On June 21, Patancheru excise officials intercepted a Mahindra XUV with a UP registration plate and seized 408 bottles of premium whisky brands-Chivas Regal, Black Label, Red Label, and Jameson. The vehicle was operated by two Hyderabad-based men, A Tikiya Naik and S Naveen Kumar, who admitted to sourcing the liquor from a wholesale store in Faridabad, Haryana, for ₹5 lakh. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad "The liquor was being brought in SUVs purchased cheaply in the national capital region. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Are you 18-79 with no funeral insurance? Talk to NZ Seniors today NZ Seniors Get Quote Undo The same vehicle, once used for smuggling, is later sold for profit in Hyderabad. With tax differences, liquor worth ₹5 lakh in Haryana fetches ₹15 lakh here. From a single run, they make over ₹10 lakh," said excise inspector Parameshwar Goud. On June 17, two ex-servicemen, Purushotham from Yapral and Siddaiah from Kowkoor, were caught at Malkajgiri with 37 bottles worth ₹75,000 sourced from a Ballari (Karnataka) defence canteen. A week earlier, 115 bottles of defence quota liquor worth ₹2.3 lakh were seized in Serilingampally. In most cases, the liquor was purchased in Karnataka, where defence canteen prices are much lower. "For instance, a Teacher's whisky bottle costs ₹800 in a Karnataka canteen, ₹1,600 in Telangana's defence outlet, and ₹2,200 in a retail store. The margins make smuggling highly profitable," explained an excise official. Smugglers are also ferrying high-end foreign liquor like Royal Salute, which costs ₹14,000 in Haryana but sells for ₹26,000 in Telangana, sometimes via trains or courier services. In Dec 2024, the excise department busted a customs duty-free liquor racket involving a police constable at RGIA, a home guard, two techies and others. The gang allegedly procured 41 bottles worth ₹15 lakh-mostly Royal Salute and Gold Label-using the passport and ticket copies of Gulf returnees in collusion with a duty-free shop worker at Hyderabad airport.
The Citizen
12-06-2025
- Automotive
- The Citizen
Facelift BMW XM range revealed with streamlined solitary model
Previous base model departs, leaving the renamed Label as the sole derivative without any powerplant changes. Introduced two years ago as the M division's powerful product ever, BMW has restructured the controversial XM range by making the previously known Red Label the only variant as part of the SUV's first mid-life overhaul. New outside Now known simply as the XM Label, the updates are minor and externally consist of standard 22-inch M light alloy wheels in place of the previous 21-inch wheels, the removal of the red accents, new, optional, 23-inch gloss black M light alloy wheels and a gloss black finish for the kidney grille surround. ALSO READ: Sci-fi in red as BMW unleashes new 550 kW XM Red Label A new welcome animation and Frozen Tanzanite Blue colour from the BMW Individual catalogue round the XM's aesthetics off. Subtle changes inside Mostly colour and upholstery changes have taken place inside. Image: BMW Inside, the revisions are even more subtle and limited to a new black Merino leather upholstery option with Coffee Brown detailing, or Silverstone Merino leather with black detailing. Same powerplant, quicker charging Up front, BMW has upgraded the 25.7-kWh battery pack to now support AC charging up to 11 kW instead of the previous 7.4 kW. No uptakes in power have, however, been achieved with the electric motor still developing 145kW/280Nm and the 4.4-litre twin-turbo V8 430kW/750Nm. XM now rides on 22-inch alloy wheels as standard instead of the previous 21-inches. Images: BMW Combined, the XM Label outputs 550kW/1 000Nm that goes to all four wheels via the eight-speed Steptronic that acts as housing for the electric motor. The claimed all-electric range is 76 km and the top speed once again limited to 250 km/h or 290 km/h with the optional M Driver's Package selected. Acceleration from 0-100 km/h takes 3.8 seconds. In South Africa soon Confirmed to make its official public debut at this weekend's 24 Hours of Le Mans, the XM Label has been approved for South Africa, though an official date of reveal hasn't yet been made. While pricing wasn't disclosed either, the German-market variant will start at €183 400, which amounts to a directly converted R3 767 919. Locally, pricing for the Red Label currently starts at R3 650 000, thus expect a price increase once sales of the 'new' Label commence. NOW READ: WATCH: BMW XM perfect for Batman when he commits to parenthood
Yahoo
06-05-2025
- Business
- Yahoo
Sainsbury's tea returns to Fairtrade label
Sainsbury's is switching back to Fairtrade certification for black tea in its 'by Sainsbury's' own-label range. The move will see the return of the Fairtrade logo onto packaging for products like its Red Label own-brand teas later this year. It is expected to generate over £1m ($1.34m) annually in Fairtrade Premium payments for farmers and workers. Following the move, Sainsbury's said it is "projected" to become "the largest retailer of Fairtrade tea in the UK". The retailer comes back to Fairtrade certification after dropping the label to pilot its own Fairly Traded logo in 2017. According to The Guardian, the pilot of the scheme came to an end in 2022. The 'Fairtrade Premium', an additional payment on top of the minimum price, is managed by producer groups Sainsbury's supplies from. The money is typically invested in boosting education, improving climate resilience of farming environment and providing farmers' local communities with better access to health and childcare. Sainsbury's said the partnership will ensure that tea farmers and workers receive a 'minimum secure price for every kilogram of tea' of tea purchased, which is expected to boost the Fairtrade Premium they collectively earn. Commenting on the latest agreement with Fairtrade, Ruth Cranston, director of sustainability at Sainsbury's, said the decision meant consumers 'can be confident that they are contributing to minimum prices for producers and better living conditions for farmers'. In a separate statement, Fairtrade Foundation partnerships director Kerrina Thorogood added: 'Sainsbury's commitment is incredibly significant because it contributes towards creating more sustainable and resilient food systems, ensuring that farmers have security, are paid a fair price and are supported to build more sustainable production processes and communities.' Thorogood also urged other companies to follow Sainsbury's lead, joining M&S, Co-op, and Waitrose in selecting Fairtrade certification for their tea. "Sainsbury's tea returns to Fairtrade label" was originally created and published by Just Drinks, a GlobalData owned brand.
The Guardian
05-05-2025
- Business
- The Guardian
Sainsbury's tea to return to Fairtrade label after dropping it in 2017
Sainsbury's has drawn a line under a previous controversial attempt to create its own ethical label by agreeing a major tea deal with the Fairtrade Foundation. As a result of the move, all classic teabags in the 'by Sainsbury's' range will move to Fairtrade, with Kerrina Thorogood, the foundation's director of partnerships, describing the move as a 'tipping point' for ethical tea. The Fairtrade stamp on packaging guarantees that producers receive a set minimum price, as well as an additional sum called the Fairtrade premium which goes into a communal fund for workers and farmers to use as they see fit. The famous logo is now stamped on 6,000 products, including chocolate, coffee and bananas. Despite stiff competition from coffee, tea is still the nation's favourite drink according to Ruth Cranston, the Sainsbury's director of sustainability. 'We sell more than 880m teabags a year, so it is an incredibly important product. But when we look at tea production, there are numerous challenges,' she said. These include disruption caused by the climate crisis, gender rights among a predominantly female workforce, and wages. The conversion of a big supermarket brand will increase the amount of Fairtrade tea sold in the UK by almost 50%, according to Thorogood. In 2024, about 7% of tea sold was on Fairtrade terms, but it was now on track to hit 10% by 2026, she said. The commitment to Fairtrade is welcome news for growers at a time when extreme weather is causing misery. Last year, harvests in Kenya and India, which together supply half the UK's tea, were disrupted by heatwave, drought and flooding. According to Fairtrade, in January and February, tea growers in Kenya experienced a 13.5% drop in tea production compared with the same months in 2024. The fall was steeper, at as much as 24%, for some smallholders in the west of the Rift Valley. The Fairtrade logo will now appear on a dozen new products including Sainsbury's Red Label tea, which launched in 1903 and is the oldest Sainsbury's product still sold at present. The overhaul is notable because Sainsbury's caused controversy back in 2017 when it dropped the Fairtrade label from its tea and introduced its own 'Fairly Traded' badge. At a time when other big companies were pursuing their own initiatives, it was seen by some to herald the end of the Fairtrade project. Cranston pushed back on the idea that Fairly Traded, which ended in 2022, was a mistake, describing it as a 'bold move' to improve relationships with producers. 'We have never pulled away from Fairtrade, but we've talked about the risks in tea, and have trialled different things,' she said. That [Fairly Traded] was done with a view to improving the way we were working with producers. There was lots of success and learnings from the scheme.' Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion At £6m in 2024, Sainsbury's generates the most Fairtrade premium of any UK retailer, and the addition of its big-selling own-label teabags will add about £1m to the sum generated by tea sales. Thorogood described the tea deal as 'incredibly significant' and called on other brands to do more as, on average, Fairtrade producers managed to sell only 4% of their produce on its terms. 'We're seeing this as a real tipping point for Fairtrade tea, but … we really need other brands and retailers to be buying in the same way.'
