|
| Growth in India and Europe drives Scotch whisky industry high |
| Press Trust Of India / London Dec 07, 2008, 00:39 IST |
|
The Scotch whisky industry is in high spirits due to growing sales in India and Eastern Europe, while growth in western markets has been hit by the economic slowdown, industry experts believe. Despite an import tax regime, which is currently under dispute, India is fast emerging as a major importer of Scotch whisky. Christian Porta, chief executive of Scotch whisky major Chivas Brothers, said, he was confident of continued strong momentum for whisky exports worldwide despite the global economic crisis.
He said India was one of the countries that has shown ‘positive trends’ in recent months. He added there were still plenty of good opportunities for growth, although some markets were becoming tougher.
“We will watch the situation carefully. There are certainly countries where sales are more difficult than what they were 12 months ago and the UK is one of them. Some markets are slowing down but emerging ones such as India, eastern Europe, Russia and elsewhere in Asia are continuing to show positive trends,” he said.
Latest figures show that Scotch whisky exports earned £90 every second for the UK last year, with the value of shipments increasing by 14 per cent to reach a new record of 2.8 billion, according to the Scotch Whisky Association (SWA).
The SWA revealed that the export volume was also at a historic high in 2007, growing 8 per cent, with the equivalent of 1,135 million bottles of Scotch whisky shipped overseas.
SWA Chairman Paul Walsh said: “This record export performance — generating £90 every second for the UK balance of trade — underscores just how important Scotch Whisky is to our economy.”
|
|
|
|
|
|
|
|
 Read Business news in |  |
|
|
|
|
|
|
Advertisements |
|
|
|
|
|
|
|
|
|
|
Content Guide
