Wine

MoSPI drafts NIC-2025 to classify emerging activities from ashwagandha farming to drone toys and digital tutoring, aligning with UN ISIC standards

If you believe in an idea and know it makes sense, don't give up - for Sonal C Holland, believing in her idea meant putting wine on India's map and inspiring a whole new community of wine lovers

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 fall in demand last year was particularly big in China, estimated at minus 25%

Alcoholic beverages makers' body CIABC on Monday said the free trade agreement between India and four European nation bloc EFTA will help push the growth of the domestic wine industry. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway and Switzerland. The Confederation of Indian Alcoholic Beverage Companies (CIABC) Director General Vinod Giri said that time-bound reduction of customs duties on an equitable and sustainable level will support the domestic industry. As per the documents of the agreement, duty concessions on wine are similar to those given to Australia, with no concessions for wines costing less than USD 5. Wines priced between USD 5 and less than USD 15 will see a duty reduction from 150 per cent to 100 per cent in the first year, then decreasing gradually to 50 per cent over 10 years. For wines costing USD 15 or more, he said, the initial duty cut is from 150 per cent to 75 per cent, eventually reducing to 25 per cent after 10 ...

Sula Vineyards Ltd, the country's largest wine producer, has recorded a strong double-digit sales growth in the June quarter. Its estimated net revenues year-on-year were up 17 per cent in the April-June period, said a sales update by Sula Vineyards. Sales from its own brands were at Rs 103.5 crore, up 24 per cent, while its portfolio of imported "elite and premium brands" had a 30 per cent growth. "The company has recorded its highest ever Q1 net revenues overall as well as for own brands and the wine tourism business," it said. Its revenue estimates from wine tourism were at Rs 11.4 crore, up 11 per cent. This sales updates will be followed by financial statements for Q1 FY24 once approved by its board, said Sula Vineyards. Commenting on this, Sula CEO Rajeev Samant said: "Our focus on premiumisation continues to pay off with our elite and premium wines leading the pack in terms of growth." Sula Vineyards' wine tourism revenues also grew in double digits. Over the outlook, he

Prices of beer, wine and spirits have risen by 13.1, 7.2 and 8%, respectively

Leading wine producer Sula Vineyards Ltd on Tuesday said sales volume from its own brands crossed 1 million cases in FY23. Besides, sales volumes in elite & premium wines went past the 5 lakh cases mark for the first time, it said in a sales update for Q4 & FY23 submitted to the bourses. "The company has recorded its highest ever annual revenues both for its own brands as well as the wine tourism business," the company said. On a provisional basis, Sula Vineyards said its net revenue for the March quarter was at Rs 104.3 crore from its own brands and Rs 12.4 crore from wine tourism, which represents room revenue, sale of food & beverages, merchandise, and all other ancillary services. For the financial year 2022-23, net revenue from own brands was at Rs 482.5 crore and Rs 45 crore from wine tourism. "FY23 has been one of the most momentous and successful years in Sula's 23-year journey. Our focus on premiumisation is reaping rich dividends - more than 52 per cent of 1 ...

The duty cut regime on Australian wine under the recent trade agreement strikes a balance between protecting the domestic industry and opening the path for greater investments and tie-ups

Entire issue will be OFS of nearly 27 million shares belonging to promoters and PE investors

The company has filed its draft prospectus with Sebi and is awaiting approval for its IPO

A burqa-clad terrorist walked up to a newly-opened wine shop in Jammu and Kashmir's Baramulla district, dropped a grenade inside through the porthole window

This will be part of an early harvest agreement; officials hope to finalise the interim trade pact by end of this month

The Maha Vikas Aghadi (MVA) government in Maharashtra on Thursday permitted all supermarkets to sell wine manufactured in the state as part of the new wine policy, officials said.

Dealcoholised wines are produced through a gradual, or even total, elimination of alcohol content via evaporation, reverse osmosis or preventing fermentation

The anti-dumping deposits will take effect November 28 and range from 107.1 per cent to 212.1 per cent

The anti-dumping probe will look at imports of wine from Australia in containers holding two litres or less in 2019, the ministry said in a statement

In 2009, Holland started her eponymous wine academy, hoping to educate youngsters about the spirits business

The selection spans over 240 years, from a bottle of Madeira 1775 to Bordeaux 2015, says Edwin Vos, the international head of fine wines at the British auction house.

Diageo, the largest alcoholic beverage company in the world, estimates that the loss in its fiscal year ending June 2020 would be between $300 million and $420 million