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Investing.com -- Indian alcoholic beverage stocks have outperformed their global counterparts over the past three months, driven by a newly-signed UK trade deal and increasing focus on premium spirits.
Shares of Tilaknagar Industries Ltd and Allied Blenders & Distillers Ltd have climbed more than 40% since late April, outpacing a Bloomberg index of international competitors in the sector.
The UK-India trade agreement, signed Thursday, will cut import tariffs on whisky and gin by half to 75%, with further reductions to 40% planned over the next decade.
This move is expected to benefit Indian distillers who frequently blend imported Scotch whisky with locally produced grain-based spirits.
The tariff reductions are anticipated to improve profit margins for Indian alcoholic beverage manufacturers as they gain access to more affordable imported ingredients.
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