Diageo asks Centre for policy reforms in states for spirits industry

Economy


Diageo India Tuesday asked the Centre to promote ‘ease of doing business’ that encourages states to introduce reforms for alcoholic beverages industry.

Stressing on the need for a ‘stable and simplified policy regime’, the spirits maker also said there is a need for a comprehensive regulatory reform for the sector.

Diageo India Chief Strategy and Corporate Affairs Officer Abanti Sankaranarayanan said in the GST regime premium alcoholic beverage is the largest sectoral contributor to the State economy through excise revenue.

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“In sectors that contribute significantly to state GDP (such as beverage alcohol), we look towards the federal government to encourage states to bring about comprehensive regulatory reform,” she said in a statement.

Sankaranarayanan said the new policy should be such that it “eases out old and obsolete business regulations, adopts a ‘sectoral’ framework that assesses ‘ease of doing business’ across the entire value chain of a sector”.

This, the company, said will create local jobs and provide livelihoods, and also generate new local investment opportunities at the state level.

While seeking a reduction in import or basic custom duties on spirits, Diageo India also called for a clear pricing policy that takes into account inflation and cost of goods, making it favourable for the state, trade and manufactures.

The company also asked the government to make deadlines of e-approvals sterner to achieve efficiency and transparency, while also seeking for designation of one central body to control the provisions.



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