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Company : Allied Domecq Spirits & Wine (I) Private Limited 
Tuesday, March 1, 2005 2:24PM IST (8:54AM GMT)
Statement from Harish Moolchandani, Managing Director, Allied Domecq Spirits and Wine (I) Pvt Ltd on the Union Budget 2005-06
New Delhi, Delhi, India

The Union Finance Minister has presented a Budget which is positive, progressive and a step in the right direction. Rightfully, the one who stands to gain the most from this growth-oriented Budget is the common man. The Bharat Nirman Scheme announced by the Finance Minister will go a long way in providing increased access to basic amenities for the country's rural population and I welcome this scheme.

On the economic reforms front, increased focus on agriculture and infrastructure; measures to boost foreign trade; implementation of VAT; reduction of corporate tax; and simplification of service tax for the small and medium enterprises (SMEs) are encouraging moves. From the liquor industry perspective, we would have liked to see some steps taken to rationalise the high duty structure currently prevalent in the sector. Though this subject has not been attended to in this Budget, we hope it will soon be looked into.

Overall, the Union Budget will take forward the feel good factor as well as give a fillip to the liberalisation and reforms process, which is indeed good news for the country.

About Allied Domecq

Allied Domecq is the second largest spirits and wine company in the world with a turnover of £3,410 million. Incorporated in 1994 in India, Allied Domecq Spirits and Wine (I) Pvt. Ltd. (ADSWI), is today amongst the market leaders in the Scotch segment in the country. Its flagship brands are Teacher's Highland Cream and Teacher's 50. ADSWI is a consumer-focused organization, striving for excellence in product quality and customer service.

Allied Domecq's international portfolio consists of Ballantine's Scotch Whisky, Malibu, Canadian Club, Beefeater Gin, Kahlua liqueur, Teachers Highland Cream Scotch Whisky, Sauz'a tequila, Tia Maria liqueur, Courvoisier cognac, Maker's Mark bourbon, Laphraoig whisky, Cockburn's port, Harvey's Bristol Cream, and La Ina Sherries as well as a range of super and ultra premium wines. In India the company has launched Teacher's Highland Cream, Teacher's 50, Old Smuggler Scotch, Long John, Old Smuggler Rum, Old Smuggler Gin and Old Smuggler Brandy.

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01/05/2002 5:33PM

Allied Domecq Announced its Interim Results for the Six Months Ended 28 February 2002

HIGHLIGHTS  2002  2001 % growth Turnover  £1,704m £1,457m 17 Trading profit £313m £277m  13 Profit before ...

13/03/2002 12:07PM

Allied Domecq Tempts the Palate of Indian Connoisseurs With Mumm's Champagne

Allied Domecq Spirits & Wine (I) Ltd, a leading spirits and wine company, today announced the launch of Mumm's champagne in India. Mumm, the third largest champagne brand in the world with a yearly production of over ...

28/02/2002 4:44PM

Reaction to the Union Budget 2002 by Allied Domecq Spirits & Wine (India) Pvt Ltd

Srikant Illuri, CEO of Allied Domecq Spirits & Wine (India) Pvt Ltd says: "The reduction of the basic customs duty on imported liquor from the existing 210 per cent to 182 per cent was an expected move. As per the WTO ...

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