UK Secretary of State for Scotland Douglas Alexander hailed the UK-India Free Trade Agreement (FTA) as a “landmark deal” that will transform Scotland’s economy, especially the Scotch whisky sector. The UK government said the deal will add around £190 million to the Scottish economy each year.
"The historic trade deal the UK government struck with India this year is great news for Scotland and especially our whisky industry; but having secured the deal, our challenge and responsibility now is to put this deal into action," said Douglas Alexander, UK Secretary of State for Scotland, according to ANI.
Alexander suggests that the main challenge now is to put things into action and make the trade deal work for both nations in the best way possible.
Under the new deal, India’s high import tariffs on Scotch whisky, currently at 150%, will be reduced to 75% and later lowered to 40% over the next decade.
The move is expected to significantly expand the reach of Scottish distilleries in India’s fast-growing whisky market, already the largest in the world.
UK Prime Minister Keir Starmer is currently leading a trade delegation to India with representatives from the Scotch Whisky Association and other Scottish businesses. The team will meet senior Indian ministers and companies to explore new trade and investment opportunities.
