By Tricitynews
Reporter
Chandigarh 30th
March, 2022:- The International Spirits & Wines Association
of India (ISWAI), an authoritative voice of the Indian Premium Alcoholic
Beverage Industry, today strongly appealed to the Chandigarh
government 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, Parvinder Singh, Vice-President-State Affairs, International
Spirits & Wines Association of India (ISWAI) said that 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.
Parvinder Singh further added that 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, Suresh Menon, Secretary-General, ISWAI stated that 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.
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