At first glance, halving import tariffs on Scotch to 75% under the India-UK trade deal should bring the biggest cheer to India's whisky lovers. But there is little to celebrate once you look closely at India's complex tax regime.

Indian officials are planning to continue negotiating with the US for a bilateral trade deal by fall of this year even if US President Donald Trump follows through with threatened tariffs this week, people familiar with the matter said.

Alcohol price in India includes state excise tax, handling charges, a social welfare fee, and distribution and retailer margins. The industry estimates final prices of imported Scotch will come down b