BackItalian wine exports to India hit by uneven tax structure
Italian wine exports to India hit by uneven tax structure
Premium
PTI
Mumbai: An uneven tax structure between Indian states is proving to be a major obstacle in the growth of Italian wine makers in the country, Wine Projects Development Buonitalia said on 15 January.
“We have a lot of market for our wine around the world. India is one of the most important markets and we are growing here. But the uneven tax structure is proving a major hurdle for us," Wine Projects Development Buonitalia head Griorgio Serra told PTI here.
Serra was in Mumbai as part of the business delegation attending the third edition of Italian wine exhibition ‘Vinitaly´.
“There are different taxation structures in different states. In this state (Maharashtra) alone, the taxation rates are 100-200% higher than others. This is a huge difference," Serra said.
“Tomorrow our Agriculture Minister will meet with his Indian counterpart to ask for a common tax structure for the entire country. We hope our demand is considered favourably," he said.
Elaborating, he said different and steep tax rates in the country are resulting in cost escalation, adversely affecting business of smaller companies.
He also said that Italian wine makers are currently looking at India as an export market and are not setting up any manufacturing centre in the country.
Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!
