Abhinav Jindal hails Uttarakhand’s new Excise Policy
Abhinav Jindal, the Founder and CEO of Kimaya Himalayan Beverages, has hailed the new Excise Policy of Uttarakhand. He applauds the adjustments made in the new excise policy, which according to him will lead to “increased state revenue, enhanced transparency, stability in business operations, and more employment opportunities.”
In Abhinav’s words, “The fundamental pillars of any forward-thinking policy or state encompass a focus on growth, facilitation of business activities, and ensuring benefits for all stakeholders.”
In a significant development, the Uttarakhand government has for the first-time permitted bottling of foreign liquor in the hilly state under its new excise policy for the fiscal 2024-25. This move aims to attract excise revenue and investment. An excise revenue target of Rs 4440 crore has been given for the financial year 2024-2025, which is an increase of 11 percent as compared to the excise revenue target of Rs 4000 crore of Uttarakhand for the current financial year 2023-24.
On state government’s moves towards ease of doing alcobev business in Uttarakhand through its excise policy, Abhinav viewed, “Improving the ease of conducting business by reducing fees for brand and label registration, as well as streamlining the registration process, positions Uttarakhand on a global scale.” He hoped that state government initiatives to streamline alcobev business would allow for the entry of diverse brands and products into the market, providing consumers with greater variety and choice.
In the new fiscal, Uttarakhand has been proposed to establish itself as a hub for the production of world class aromatic liquor, wines/malts like Scotland and Italy, etc. Additionally, the policy provision has been made for setting up micro distillation units to encourage innovation and investment in the hilly areas of the state.
On state government’s promotion to go local on alcobev business, Abhinav voiced, “the policy emphasises the promotion of local manufacturing, which is poised to transition Uttarakhand from a net importer to a net exporter. With abundant natural resources, agricultural produce, and opportunities for industrial growth, Uttarakhand is well-equipped for this shift.”
Speaking on the new excise policy, Abhinav concluded, “these developments reflect a meticulously planned strategy, aimed at striking a balance between revenue growth and preventing excessive alcohol consumption. As custodians of brands, we view these changes positively and eagerly anticipate Uttarakhand becoming a favourable market for stakeholders.”
