The Demerara Distillers Limited (DDL), through the World Trade Centre Georgetown (WTCG), is calling on regional governments to engage the Indian government in negotiations to seek a reduction in the tariffs for alcoholic spirits from CARICOM member states. This tariff currently stands at around 200 per cent.
The call comes on the heels of India cutting tariff rates on alcoholic beverages from the European Union and Britain as part of new trade deals.
It was publicly made by Komal Samaroo, Chief Executive Officer (CEO) of DDL during a panel discussion at a forum in Guyana on Perspectives on Global Trade: Challenges and Opportunities hosted by the WTCG.
“Our governments have very good relations with India which is slashing tariffs on alcoholic spirits from the European Union and Britain by half to 75 per cent from 150 per cent, which will be lowered to 40 per cent and gradually lowered to 20 per cent. Our governments should be seeking to have tariffs on our spirits lowered. We have some of the best quality rum in the world and with lower tariffs we can be competitive,” Samaroo told the forum in the presence of top officials of the Caribbean Community (CARICOM) Secretariat including Deputy Secretary General Dr. Armstrong Alexis and Assistant Secretary General for the CARICOM Single Market and Trade, Ambassador Wayne Mc Cook.. He urged CARICOM to get this issue on the agenda of its bilateral negotiations with India.
Samaroo, a former chairman of the Barbados based West Indies Rum and Spirits Producers Association (WIRSPA) says Guyana’s El Dorado brand has the potential to competitively enter the Indian spirits market in specific segments of that market.
In a statement, the WTCG said the forum examined strategies for navigating the current global geopolitical and business landscape, which has seen a shift away from World Trade Organisation (WTO) rules-based trade. WTCG executive director Wesley Kirton pointed out that the rise and fall of tariffs “all within a few weeks based on actions and reactions on the part of major powers, is really unpredictable and unprecedented.”
India is Scotch Whisky’s largest export market by volume, with the equivalent of more than 192 million bottles exported in 2024, according to published statistics. These figures also indicate that Scotch Whisky exports to India have grown by more than 200 per cent in the past decade. These statistics support Samaroo’s contention that there is huge potential for El Dorado and other Caribbean rums to enter and grow in the Indian market.
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