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Regional leaders must seek reduction in alcohol tariffs from Indian govt. – Samaroo urges CARICOM leaders
(Kaieteur News) – Chairman of the World Trade Centre Georgetown (WTCG) Komal Samaroo is calling on regional governments to negotiate with the Indian government for a reduction in the tariffs for alcoholic spirits from CARICOM member states.
According to a press release issued by the World Trade Centre Georgetown (WTCG) on Friday, the tariff stands at 200 per cent following the India’s cutting tarrif rates on alcoholic beverages from the European Union and Britain as part of new trade deals.
Chairman of the World Trade Centre Georgetown (WTCG) Komal Samaroo
On Wednesday, Samaroo who is also the Chief Executive Officer (CEO) of the Demerara Distillers Limited (DDL), issued the call during a panel discussion at a forum in Guyana on Perspectives on Global Trade: Challenges and Opportunities hosted by the World Trade Centre Georgetown (WTCG).
The forum examined strategies for navigating the current global geopolitical and business landscape which has seen a shift away from World Trade Organization (WTO) rules to a system of fluctuating tariffs within weeks based on “major powers”.
“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,” said Samaroo who noted that regional governments should “seek 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 gathering which included senior 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.
The WTCG Chair urged CARICOM leaders to place serious emphasis on the matter while noting that it is deserving of being on the agenda of bilateral negotiations with India.
Samaroo, a former chairman of the Barbados based West Indies Rum and Spirits Producers Association (WIRSPA), said Guyana’s El Dorado brand has the potential to competitively enter the Indian spirits market.
India is Scotch Whisky’s largest export market by volume, with the equivalent of more than 192 million bottles exported in 2024. This is according to published statistics which also indicate that the volume of Scotch Whisky exports to India have grown by more than 200 per cent in the past decade.
The WTCG said that the 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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