Market Chatter: Diageo, Pernod Ricard to Discuss Bulk Scotch Imports Tariff Cut with Indian Government

11:50 PM EST, 11/01/2026 (MT Newswires) -- Diageo (DGE.L) and Pernod Ricard (RI.PA) will meet with top officials of India's Ministry of Commerce and Industry to discuss the government's plan to exclude bulk Scotch imports from tariff reduction under the India-UK trade pact, Reuters reported Oct. 31, citing four people with direct knowledge of the meeting and an industry letter. The unnamed sources said the closed-door talks are expected to be held on Monday and be joined by senior executives of foreign and domestic liquor companies. Diageo and Pernod Ricard are both part of the International Spirits & Wines Association of India. The report added that the meeting will follow the Confederation of Indian Alcoholic Beverage Companies' warning about the plan's potential negative impact on the country's manufacturing sector, as stated in a confidential Oct. 27 letter to the government. The organization includes Radico Khaitan and Allied Blenders. Diageo, Pernod, Allied Blenders, Radico Khaitan, and India's Ministry of Commerce and Industry 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.)