Replay: Expert Access: UK-India FTA: Structural breakthrough for scotch, but delivery likely to be gradual

Research evidence excerpt

Replay: Expert Access: UK-India FTA: Structural breakthrough for scotch, but delivery likely to be gradual

Equity Research

15 July 2026

Replay: Expert Access

UK-India FTA: Structural

breakthrough for scotch, but

delivery likely to be gradual European Consumer Staples

Laurence Whyatt

The implementation of the UK-India Free Trade Agreement +44 (0)20 7773 5324

today represents a long-awaited inflection point for Scotch laurence.whyatt@barclays.com

Barclays, UK

whisky, materially improving market access into what is

Ashutosh Jain

already the largest global whisky market. +91 (0)22 6175 1452

ashutosh.jain@barclays.com

Please see below replay information for the event held on

Tuesday, 14 July 2026 at 1:30pm – 2:30pm UTC

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This transcript/recording is provided in an unedited format. Barclays is not responsible for the

recording quality or any transcription errors or omissions.

We spoke yesterday to Ian Duddy, International Director at the Scotch Whisky

Association, regarding his views on the UK-India FTA deal (replay link). He emphasised that

whilst the tariff reset is clearly significant, the real impact will depend on execution, state-

level dynamics and sustained industry investment.

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during this event are solely those of the speaker and do not represent the views or opinions of

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