{"id":253076,"date":"2023-07-22T21:20:00","date_gmt":"2023-07-22T15:50:00","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=253076"},"modified":"2023-08-31T11:03:08","modified_gmt":"2023-08-31T05:33:08","slug":"india-australia-explore-easing-whiskey-exports-form-group","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/india-australia-explore-easing-whiskey-exports-form-group\/","title":{"rendered":"India, Australia explore easing whiskey exports, form group"},"content":{"rendered":"\n<p><strong>Source<\/strong>: The post is based on the article\u00a0<strong>\u201cIndia, Australia explore easing whiskey exports, form group<\/strong>\u201d published in<strong> Live Mint <\/strong>on\u00a0<strong>22<sup>nd<\/sup> July 2023<\/strong>.<\/p>\n<p><strong>Syllabus: <\/strong><strong>GS 2 \u2013 International Relations<\/strong><\/p>\n<p><strong>Relevance: <\/strong><strong>About India Australia <\/strong>mutual recognition agreement (MRA).<\/p>\n<p><strong>News: <\/strong>Recently, India and Australia have formed a joint working group to consider the possibility of a mutual recognition agreement (MRA).<\/p>\n<h2><strong>What is mutual recognition agreement (MRA) about?<\/strong><\/h2>\n<p>The agreement would help Indian whiskey makers to get into the Australian market, which has a significant Indian population and growth opportunity.<\/p>\n<p>The formation of the group comes after Australia got duty-free access for its high-end wines under the <a href=\"https:\/\/forumias.com\/blog\/india-australia-trade-agreement-explained-pointwise\/\"><strong>Economic Cooperation and Partnership Agreement (ECTA)<\/strong><\/a>, <strong>between India and Australia.<\/strong><\/p>\n<h2><strong>Why was MRA needed?<\/strong><\/h2>\n<p>Currently, <strong>Australian rules require the spirit to be matured for two years before it can be labelled whiskey and one year for rum.<\/strong> However, this rule acts as a disadvantage for Indian liquor exporters as India does not have such rules.<\/p>\n<p>Further, <strong>Indian companies claim that spirits mature faster in India&#8217;s warmer climate<\/strong>, and the maturation rule restricts their access to a market with a large Indian population and good growth potential.<\/p>\n<p>Companies also claim that <strong>a two-year maturation in India will cause a 10% loss due to evaporation<\/strong>. Therefore, due to these differences, a joint working group has been formed to look into the issue and find a way out.<\/p>\n<p>Moreover, the Indian liquor industry is pushing for similar relaxations in the UK, where the minimum maturation period is three years.<\/p>\n<h2><strong>What is the way ahead?<\/strong><\/h2>\n<p>India is fast emerging as a producer of high-quality liquor, including single malt whiskies.<\/p>\n<p>Therefore, if maturation rules are eased in the UK, Canada, and Australia, it can create substantial market opportunities for Indian producers due to the significant Indian diaspora in these countries.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: The post is based on the article\u00a0\u201cIndia, Australia explore easing whiskey exports, form group\u201d published in Live Mint on\u00a022nd July 2023. Syllabus: GS 2 \u2013 International Relations Relevance: About India Australia mutual recognition agreement (MRA). News: Recently, India and Australia have formed a joint working group to consider the possibility of a mutual recognition&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/india-australia-explore-easing-whiskey-exports-form-group\/\">Continue reading <span class=\"screen-reader-text\">India, Australia explore easing whiskey exports, form group<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[212,239,238,10501],"class_list":["post-253076","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-2","tag-international-relations","tag-ir","tag-live-mint","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":1700774255,"cached_date":1700973456},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/253076","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=253076"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/253076\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=253076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=253076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=253076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}