India probing Pernod, Diageo Scotch imports under India-UK trade pact, sources say

Indian tax officials are investigating Pernod Ricard and Diageo over the classification of their bulk Scotch imports. This move is part of a broader scrutiny of foreign investors in India. The investigations are significant because they may have improperly benefitted from reduced tariffs under a recent trade agreement between India and the UK. If these companies are found to have misclassified their imports, they could face penalties and fines, which could impact their business operations in India.

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India is investigating Pernod Ricard and Diageo for improper classification of bulk Scotch imports. This could lead to tariffs on these imports, affecting the companies' profits.

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