India's high tax curbing soft drinks segment reach potential: ICRIER report

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India's high tax curbing soft drinks segment reach potential: ICRIER report - Business Standard

Quick Summary:

The cross-country comparative data on sugar-sweetened beverages (SSB) taxes collated by the World Bank shows that India has one of the highest tax rates for carbonated soft drinks (CSDs) at a total tax rate of 40 per cent as of 2023.

Carbonated soft drinks segment in India is unable to reach its potential in terms of scale expansion due to barriers such as high taxation under the GST regime despite government's initiatives like 'Make in India' and 'Aatmanirbhar Bharat', according to a report by economic think tank ICRIER.

Over 90 per cent of countries that tax SSBs have a lower tax rate than India, as per the report titled 'Carbonated Beverages Industry in India: Tax Policy to Promote Growth, Innovation and Investment'.