On 02 April 2022, Australia and India signed a trade agreement, the Australia-India Economic Cooperation and Trade Agreement, that reportedly will eliminate tariffs on more than 85% of Australian exports to India (valued at more than $12.6 billion a year), rising to almost 91% (valued at $13.4 billion) over 10 years, while eliminating tariffs on 96% of Indian goods entering Australia. Rachel Triggs of Wine Australia noted that the AI ECTA will make India a more viable proposition for small to medium winemakers that have not previously contemplated entering the Indian market. AI ECTA is an interim agreement and both countries continue to work towards a full Comprehensive Economic Cooperation Agreement. Australia’s Prime Minister noted benefits in the agreement for Australian wine producers – Tariffs on wine with a minimum import price of US$5 per bottle will be reduced from 150% to 100% on entry into force and subsequently to 50% over 10 years (based on the Indian wholesale price index for wine). Tariffs on wine bottles with a minimum import price of US$15 will be reduced from 150% to 75% on entry into force and subsequently to 25% over 10 years (based on the Indian wholesale price index for wine).

WineAmerica’s report on U.S. vineyard acreage survey

30-01-2023 | News

WineAmerica, the National Association of American Wineries, reported progress in a vineyard acreage...

United States: Heavy rains aided California’s wine sector

30-01-2023 | News

Recent storms in California caused about $30 billion in damage to...

Australia–China: Trade ministers to meet re trade restrictions on Australian products

30-01-2023 | News

Following an exchange between Australian and Chinese trade officials attending...

United Kingdom, wine/spirits sectors seek help with mandatory glass recycling costs

05-01-2023 | News

Wine and spirits businesses are seeking help from the UK government regarding...

Putin approves measures to develop viticulture and winemaking in Russia

05-01-2023 | News

President Putting has reportedly instructed the Russian government to implement a long-term...

Japan proposes recognition of nine additional GIs for UK alcohol beverages

05-01-2023 | News

Japan’s National Tax Agency (NTA) has proposed nine new geographical indications (GIs)...

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