India-UK FTA cuts Scotch tariffs; ISWAI flags premiumization tailwind for IMFL bottlers
Industry body ISWAI welcomed the India-UK FTA rollout, citing reduced duties on Scotch including bulk imports as a structural boost for Indian spirits bottlers. Nuvama reiterated BUY on United Spirits, Radico Khaitan and Allied Blenders, pointing to margin expansion and volume tailwinds in a 400m-case market where premium still holds just 2.5% share.
ISWAI welcomes India-UK FTA rollout, citing tariff cuts on Scotch (including bulk imports) as a boost to IMFL bottlers and premiumization. Nuvama maintains BUY on United Spirits, Radico Khaitan, Allied Blenders citing margin and volume tailwinds.
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- Mint — Same time