If you get to say cheers with imported rum at affordable prices in the near future, thank Mauritius, and the concessions India is providing the Indian Ocean nation through the Comprehensive Economic Cooperation Agreement (CECA) between the two nations, reports The Economic Times.

Wine producers, too, have a reason to raise their glasses. In return for the concession on rum, Mauritius is offering 50% duty preference for 1.5 lakh litres of Indian wine. The import duty concession on Mauritian rum could be anywhere between 25% and 50%.

Domestic manufacturers of rum are likely to protest since the entry of Mauritian rum at concessional duty would result in increased competition for this segment, including big players like Mohan Meakins and UB Group.

The PTA, which is part of the CECA between the two countries, has the backing of the Prime Minister's Office (PMO) and Ministry of External Affairs.

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