High Tariffs & Taxes Impeding Imported Wines In India
Although India is a very lucrative market for imported wines but due to high taxesimposed on imported wine, it is quite expensive compared to the domestic wine. Several levels of taxes on wine include custom duties on imports and state excise taxes. Custom duties are imposed on the cost, insurance and freight (CIF) value and are roughly 160%. These duties and taxes are thus becoming a roadblock for imported wine, says a new research report from RNCOS titled, Indian Wine Industry Analysis.
The Indian economy is now a trillion dollar economy, wherein the rising disposable income has become a major driving factor fuelling the Indian wine industry. The other factors which contribute to the industrys growth include favorable government policies to boost production, wine tourism, clubs and festivals, and womens growing preference for the drink. The availability factor has also driven the demand for wines in India. As opposed to earlier times, various types and brands of wines ranging from low-cost to premium-segment are now available in the Indian market offering the consumers a wide assortment. The changing attitude of the government towards the wine industry is yet another supporting factor.
Presenting an insight into Indias wine consumption in terms of domestically and imported wines, price structure, product segmentation, and major wine consuming areas, our report also discusses wine production in context of major wine producing areas, leading wineries in India, and wine imports and exports.
Our report finds and analyzes the factors that are critical to the success of the Indian wine industry. Profiles of key players in the wine market have also been included in it. Further our report sheds light on the emerging industry trends, and finds out information about the market constraints and the way in which it affects the market performance. The forecasts for wine consumption and overall market provided in the research would successfully facilitate the investment-intending clients to achieve a proper understanding of the Indian wine industry and its future prospects.
For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM296.htm
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Check Related REPORTS on: http://www.rncos.com/Food&Beverages.htm
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by: Shushmul Maheshwari