From tax notices to allegations of illegally boosting market share, French liquor giant Pernod Ricard faces challenges in India. Here's a look at why the maker of Chivas Regal and Absolut vodka is finding it tough to do business in the country
India's customs authority in alast year called the company a "habitual litigant" and accused it of a conspiracy "to defraud the Government of India of its legitimate revenue".
Pernod, which challenged the demand, says it has "always endeavoured to act with full transparency" and complies with all local laws.Pernod says that since 1994, its tax disputes have made it tough to do business in the country.that "ever-lasting litigation has been a big strain on our ease of doing business and has inhibited fresh investment by our group headquartered in Paris for expansion of business in India".
In July 2022, Pernod wrote a letter to the federal tax authority saying it was "facing significant business continuity challenges" and that operational challenges were choking its supply chain.India's alcohol market is heavily regulated and Pernod - like much of the industry - has been concerned about the 150% tax on imported liquor.the government to drop the tax it said poses a "large challenge" for Pernod Ricard and puts many of its drinks out of reach of consumers.
Pernod's revenue from operations in India stood at $2.4 billion in 2020-21, but taxes and duties - which include federal, import and state levies - accounted for 79% of that. Its India net profit for the year stood at $130 million. Reporting by Arpan Chaturvedi and Aditya Kalra in New Delhi; Editing by Raju Gopalakrishnan and Barbara Lewis
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