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Yet this has been the approach taken to date in New Zealand

On its own, this is unlikely to make hard-core smokers give up (I find it hilarious when news programs ask smokers if they will now give up smoking because of the new packaging), but as part of a continuing shift discouraging smoking, what we are observing is another kink in tobaccos marketing armour

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Also, the credit profiles of cigarette makers rated by us will be resilient, supported by negligible debt and robust liquidity (about Rs 24,000 crore as on March 31, 2024)." Going forward, stability in the tax regime and regulations on tobacco consumption will be monitorable