Wine Institute Advocates a Reduction in Indian Duties on U.S. Imports
The Wine Institute recently voiced support for opening a dialogue with India to reduce “prohibitive duties” on United States wine imports. The Wine Institute is an organization that represents and advocates for over 1,000 U.S. wine-related businesses.
As it stands today, U.S. producers must pay several different duties that amount to 150% to 550% of the wine’s wholesale price. As a member of the WTO, India is technically not supposed to charge duties over 150%.
According to the Wine Institute, India imported $674 million worth of wine in 2005; more than twice the amount a decade ago. With its large and increasingly affluent population, the country is one of the fastest growing wine markets in the world.
In order to capitalize on India’s emerging taste for wine, United States trade representatives have requested that talks be initiated through the WTO. This is especially timely considering French imports to India rose by 35% last year. The U.S. wine industry certainly does not want to lose too much ground in this emerging market.
Written by: Ben Bicais on Tuesday, March 20 2007
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