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Liquor Industry
Alcoholic beverage maker's body CIABC on Friday said any import duty cuts in future trade deals on wine could hurt the domestic makers, as concessional tariffs on imported spirit from the EU, US, Australia and New Zealand may flood the Indian market. The Confederation of Indian Alcoholic Beverage Companies (CIABC) also suggested the government to impose a minimum import price clause to prevent inbound shipments of low-cost and low-quality bottled spirits, bulk and bottled wines. It added that the duty reduction agreed by India on Scotch whisky under the free trade agreement with the UK may impact the domestic premium category whisky brands due to the likely influx of lower-priced Scotch whiskies. As per the agreement, India will reduce duty on UK whisky and gin from 150 per cent to 75 per cent and further to 40 per cent in the tenth year of the deal. "If similar duty concessions are granted on other spirits, including wines under future FTAs with wine-producing countries such as th
The premiumisation of the liquor industry is happening very fast, helped by trends such as growth in disposable income and young generation's aspirations to have a more elevated experience, French spirit maker Pernod Ricard India MD Jean Touboul said on Friday. The mass spirits market will continue to be there, however, it is also premiumising as people now aspire for better products as they prefer "to drink less probably but drink better stuff", Touboul said while speaking at a session during India Today Conclave here "This trend is growing in the younger generation, which means when they grow older when their disposable income grows with life, we should see this trend continuing, if not accelerating," he said. Touboul also mentioned the role of innovation and said it is very important and key for Pernod Ricard's business because if you want to interact with the consumer to evolve them, then products delivering higher value are needed. Pernod Ricard, which has launched its first .
Homegrown Indian liquor makers are mulling approaching food & beverages regulator FSSAI for a separate standard for the Indian single malt whisky that is rapidly scaling with the ongoing trend of premiumisation and has won several prestigious international awards. This will help maintain the sanctity and reputation of Indian single malt whisky -- now exported to 60 countries -- and Indian producers are discussing the move, according to Confederation of Indian Alcoholic Beverage Companies (CIABC), the industry body of domestic AlcoBev manufacturers. The Indian distillers are also taking steps to get a geographical indication tag for their single malt whisky that will enhance the brand's credibility and standards. While the sale of Indian single malt whisky rising in high double digits in the country -- the world's largest whisky market -- the industry is also facing a challenge to keep a check on the emergence of smaller single malt whisky brands. According to CIABC Director ...
American spirits makers Sazerac plans to introduce more brands of bourbon whisky to its priority market India, which is going through premiumisation, a company official said on Wednesday. The Louisiana, US-based privately held American alcoholic beverage company looks at India as an "opportunity market" because it is one of the largest whisky consumption markets, where the trend of premiumisation is picking up led by the growth of the economy and subsequent increase in disposable income. Sazerac Company, which owns a stake in Bengaluru-based liquor maker John Distilleries Ltd, also plans to launch and develop the Bourbon category whisky from Buffalo Trace Distillery, in top Indian metros. It will 'leverage' its relationship with John Distilleries while expanding in the Indian market, which is considered to be complex and over-regulated for the spirits business. "We do expect to continue to invest. India for us, is a priority market. You will see year in and year out, we will contin
John Distilleries Ltd, a Bengaluru-based liquor maker, expects around Rs 2,500 crore net revenue in the next five years, led by the expansion of its product portfolio, premiumisation and capacity expansion, said its Chairman Paul P John on Thursday. The owner of popular single malt whiskey Paul John is also planning to set up a green field manufacturing unit in Karnataka to double its production capacity by investing around Rs 600 crore, which will be funded through a mix of debt and cash from internal accruals. John Distilleries Ltd (JDL) has identified a land parcel in Karnataka and expects the proposed green field unit to be operational by 2030, he said. "Now, we have already reached 10,000 litres production capacity per day. But this will suffice for the next four or five years. So, we need to expand. At the pace that we are growing and the focus that we have, we need another 12,000-litre capacity plant somewhere, and we are looking at Karnataka for that," John told PTI in an ..
Liquor sales in the national capital in the fortnight leading to Diwali set a record with over 3.87 crore bottles sold, mopping up a revenue of Rs 447.62 crore for the excise department of Delhi government, officials said on Saturday. From October 15 to October 30, a whopping 3.87 crore bottles were sold from the liquor stores run by four corporations of Delhi government, including 2.98 crore bottles of Indian Made Foreign Liquor (IMFL) and 89.48 lakh beer bottles, official figures showed. Diwali celebrated on October 31 was a 'dry day', meaning all liquor stores were closed across the city on that day. On Diwali eve on October 30, a total of 33.80 lakh bottles were sold, yielding a revenue of Rs 61.56 crore, according to the data. As compared to last year, 1.18 crore more bottles were sold in the fortnight leading to Diwali this year, from 2.69 crore in 2023 to 3.87 crore this time. Emerging from the shadows of the disruptions caused due to the withdrawal of the 2021-22 liquor ..
Hong Kong's leader announced a cut to liquor tax Wednesday as the Asian financial hub hopes to revive its reputation as a travel destination with a vibrant nightlife and dining scene. After fulfilling Beijing's long-standing imperative to enact a homegrown national security law, Chief Executive John Lee now faces challenges with economic competitiveness against regional rivals like Singapore, Japan, and mainland Chinese metropolises. Changes in residents' lifestyles and a wave of middle-class emigration during the COVID-19 pandemic have dampened local demand. Many residents now prefer to spend their weekends in mainland China, attracted by its lower prices and a wider variety of entertainment options. Visitors from the mainland are also spending less in the city than before. Vacant shops are commonly seen in the city's most popular shopping districts, and revenue at the city's bars were down about 28% in the first half of 2024 from the same period in 2019, preliminary official data