Cheers! Euro wine to get cheaper in India

New Delhi: European wines are set to enter the Indian market at lower prices under the bilateral free trade agreement as India will provide import duty concessions under the pact, an official said.

Under the pact, the duty on EU wines would fall from 150 per cent to 20 per cent (for expensive ones). For wines below 2.5 euros, there will be no duty concessions.

Indian wines, too, will get duty concessions in the EU member countries. India and the European Union (EU) on Tuesday announced the conclusion and finalisation of negotiations for a free trade agreement.