Home Business ISWAI expresses concerns aboutthe 2022-23 Excise Policy to Deputy Commissioner Chandigarh

ISWAI expresses concerns aboutthe 2022-23 Excise Policy to Deputy Commissioner Chandigarh

522
0
Mr. Parvinder Singh, Vice-President -State Affairs, International Spirits & Wines Association of India (ISWAI)
Mr. Parvinder Singh, Vice-President -State Affairs, International Spirits & Wines Association of India (ISWAI)

Chandigarh, March 31, 2022 The (22G TV International Spirits & Wines Association of India (ISWAI), an authoritative voice of the Indian Premium Alcoholic Beverage Industry, strongly appealed to the Deputy Commissioner (Union Territory of Chandigarh) to reconsider its Excise Policy 2022-23 as the sustainability of alcohol manufacturers is becoming a challenge on account of hyperinflation and the lack of any significant price increase to suppliers since 2018-19.

Expressing apprehension about the Chandigarh Excise Policy for 2022-23, Mr. Parvinder Singh, Vice-President-State Affairs, International Spirits & Wines Association of India (ISWAI) said, “We are deeply concerned about the significant increase in costs of input goods and services which is critically impacting supplier sustainability. The cost of every input material and service has increased over the last 3-4 years.”

Mr. Singh further added, “The AlcoBev sector is a significant revenue contributor and the government should make an ‘inflation-embedded policy’ keeping the interest of the manufacturersas well, in addition to purely revenue considerations.”

Expressing concern, Mr. Suresh Menon, Secretary-General, ISWAI stated, “We strongly urge the Chandigarh government to reconsider its Excise policy as for the fourth year running, the concerns of the manufacturers have been overlooked, which is now threatening the very existence of the industry.”

Input Increase in Cost (FY 2018-FY2022)
Extra Neutral Alcohol 26%
Glass (bottles) 27%
Closures 15%
Ocean Freight 300%
Domestic Freight 20%
Barley 34%
Industry Sources

Regular consultations with industry stakeholders are essential to forging a predictable and progressive policy framework, incentivizing higher investments in the sector and ISWAI constantly works in this direction.