Yesterday I raised a glass as I warmly welcomed the newly announced trade deal between the UK and India that has been lauded as “transformational” in opening Scotland’s premier products up to the world’s largest whiskey market.
Under the terms of the deal, the UK’s 150 per cent tariff on Scotch Whisky will be halved to 75 per cent, with the potential for further reductions in the coming years.
With 100 of Scotland’s 150 distilleries in my Highlands and Islands and Moray Constituency I fully agree with the Chief of the Scotch Whisky Association (SWA), Mark Kent, when he called it a “once in a generation” deal and a “landmark moment for Scotch Whisky”.
The agreement has the potential to increase Scotch Whisky exports to India by £1bn over the next five years and to create 1,200 jobs across the UK. India is the largest whisky-drinking market in the world, consuming almost half of all whisky consumed globally.
The trade deal is a huge achievement and must be seen as a major win for Prime Minister Keir Starmer for sealing this deal within 10 months after 8 years of a failure to do by the previous Conservative Government.
This deal cuts tariffs, boosts growth, and creates jobs. It shows that even when the global economic climate is uncertain, the Labour Government can be the adults in the room, grabbing opportunity and securing the future of the whisky industry which is so vital for the north of Scotland.