The recent tariff cuts announced by former U.S. President Donald Trump have faced their first signs of protest, particularly from the Indian liquor industry. The Confederation of Indian Alcoholic Beverage Companies (CIABC) has expressed concerns, urging the Indian government to safeguard the interests of domestic liquor manufacturers when dealing with issues such as customs duty cuts and other concessions in future Free Trade Agreements (FTAs).
The Director General of CIABC, in a statement, emphasized the need for India to protect its liquor industry from potential adverse effects of global tariff reductions, particularly in the face of increasing imports. This call for vigilance comes as businesses worry that such trade concessions could lead to an influx of cheaper foreign liquor, undermining local manufacturing efforts.
The statement adds that while India seeks to expand its trade relations internationally, it must also ensure that domestic industries remain competitive and resilient in an increasingly globalized market.