Indri sells 100,000 cases, turns world's fastest growing single malt whisky

The Indian alcoholic beverages industry is set for improved profit margins and heightened sales in FY25, says ratings agency

Indri, the Indian single malt whisky, has crossed the milestone of 100,000 cases in sales within just two years of its launch to become the fastest-growing such liquor in the world, according to a report in the Economic Times (ET).

“In a market once dominated by imported labels, Indri stands tall as a beacon of Indian excellence. It's not just a brand; it's a symbol of national pride, elevating the status of Indian spirits to unparalleled heights,” said Praveen Malviya, chief executive officer (CEO) of Piccadily Distilleries, which makes the malt.

Originating in a small sugar mill in Indri, Haryana, the single malt has grown over 500 per cent since launch and aspires to have more than 30 percent of market share in India, according to ET.

In 2023, some 675,000 cases (each containing nine litres) of single malts were sold in India. Domestic production contributed approximately 345,000 cases, while Scottish and other producers collectively accounted for sales of around 330,000 cases.

According to credit rating agency ICRA, the Indian alcoholic beverages industry is set for improved profit margins and heightened sales in the fiscal year 2025.

ET reported that ratings agency ICRA has predicted a revenue expansion of 8-10 per cent for certain domestic alcohol beverage (alcobev) firms in FY25. Indian made foreign liquor enterprises are eyeing a revenue surge of 11-13 per cent, driven by an escalating demand for premium offerings and an anticipated volume uptick of around 3-5 per cent.

ET reported that despite optimistic forecasts for the industry's future, the alcohol business in India faces challenges from diverse state tax rates and weather-related obstacles. India's climate poses a distinct challenge for domestic single malt in contrast to Scottish single malt. Furthermore, the India-UK Free Trade Agreement is expected to reshape the landscape of the alcobev sector in the country.

In addition to reaching a significant milestone, Indri has received numerous recognitions on a global scale. Last year, the Indri Diwali Collector’s Edition 2023 was honoured with the "Double Gold Best In Show" award at one of the world's largest whisky-tasting competitions. This competition sees participation from over 100 varieties of whiskies worldwide annually, according to the ET report.

Indri's single malt Trini has previously claimed victory at events such as the Tokyo Whiskey and Spirits Competition 2023, the Fifty Best World Whiskies 2022 Award, and the International Whisky Competition in Las Vegas. Additionally, it earned a spot on Whisky Advocate's prestigious Top 20 Whiskies of the World list, according to the ET report.