Market Chatter: Pernod Ricard, Diageo Reportedly Face Indian Tax Probe Over Bulk Scotch Import Classification

12:31 PM EDT, 10/19/2026 (MT Newswires) -- Pernod Ricard (RI.PA) and Diageo (DGE.L) are under investigation by Indian tax officials over whether the liquor giants wrongly classified some bulk Scotch imports to pay lower tariffs, Reuters reported Monday, citing five industry sources familiar with the matter. Tax inspectors in India paid a surprise visit to Pernod Ricard's headquarters near New Delhi last week, questioning company executives and reviewing some documents, the sources said, adding that the inspectors have not been in touch since. Diageo is also being investigated over the same issue, while its Indian arm, United Spirits, said offices in multiple locations were searched on Oct. 16. Pernod Ricard and Diageo did not immediately respond to requests for comment from MT Newswires. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)