Page 4 - Liquor Industry

Undeterred by price hike, liquor sales at nearly 400 mn cases in FY23

Whisky continued to register the biggest numbers and accounted for around 75 per cent of overall spirits demand

CM rubbishes liquor scam allegations in Chhattisgarh, calls ED a BJP agent

Chhattisgarh Chief Minister Bhupesh Baghel on Monday called the Enforcement Directorate an "agent" of the Bharatiya Janata Party and dubbed the ED's claim of unearthing an alleged liquor scam in the state as false and baseless. As the Assembly polls were nearing in the state, the "disappointed" BJP was trying to defame the Congress government using the ED, he claimed. The state polls are due this year-end. The ED on Saturday arrested liquor businessman Anwar Dhebar, the brother of Congress leader and Raipur Mayor Aijaz Dhebar, in connection with an alleged liquor scam. In its remand application filed in a special court here seeking remand of Anwar, the ED claimed there was a "massive scam" in liquor trade in Chhattisgarh by a syndicate, comprising high-level state government officials, private persons and political executives, that generated corruption money of more than Rs 2,000 crore between 2019-22. The ED said Indian Administrative Service (IAS) officer Anil Tuteja was the ..

Tipplers beware! These liquor brands may soon go off the shelves in Delhi

Delhi Excise Department has not renewed the liquor sale licence of three big firms and distributors

Decoding Delhi's alleged 'liquor scam' that led to Manish Sisodia's arrest

Under the new, now-scrapped, excise policy, the state government allowed private vendors and shops to sell liquor in Delhi

Kejriwal, Mann meets Sisodia's family members after his arrest by CBI

Delhi Chief Minister Arvind Kejriwal and his Punjab counterpart Bhagwant Mann visited Deputy Chief Minister Manish Sisodia's residence to meet his family members after the CBI arrested the AAP leader on Sunday. The Delhi deputy chief minister was arrested by the Central Bureau of Investigation in connection with alleged corruption in the formulation and implementation of the now-scrapped excise policy for 2021-22. Mann slammed the BJP for the arrest of Sisodia, saying the move was an "insult" to the education that lakhs of children are getting in Delhi. "The arrest of Manish Sisodia is actually an insult to the education of lakhs of children of Delhi..Sending the one who builds schools to jail is part of the BJP's agenda," Mann charged in a tweet in Hindi. Earlier in the day when Sisodia was on his way to the CBI headquarters, Kejriwal had tweeted, "We will take care of your family, Manish. Don't worry.

Illegal liquor: Consumption may be up, but deaths show the opposite trend

India has a higher per capita consumption of illegal liquor than most countries in the neighbourhood

Taxes account for 67-80% of liquor prices; threatens sector's future: ISWAI

High rates of taxation are crippling the alcoholic beverages (alcobev) sector and threatening the future of the liquor industry in the country, the International Spirits & Wines Association of India (ISWAI) said. ISWAI, the apex body of the premium alcobev industry in the country, said that taxes account for 67 to 80 per cent of the product prices, leaving little for the trade to sustain and manage operations. The Indian alcobev industry is in deep crisis due to inflation on one hand and high taxation rates. In this context, it is needed to decrease taxes and raise product prices for the sector to sustain," ISWAI CEO Nita Kapoor said. Unlike other industries, the liquor industry does not have the freedom to price the products, Kapoor said. "The liquor trade contributes 25 per cent to 40 per cent of the state governments' revenues. Despite this, the government chose to tax it at high rates. The rates should be rationalised," Kapoor said. According to ISWAI, the Indian alcobev ...

World's largest beer maker adds Budweiser Magnum whiskey to its India menu

India's love for darker spirits makes the world's largest beer maker enter the whiskey segment in the country

Sobering reality: Three liquor firms served notices for surrogate ads

In its warning, the MCA had said that "during recent sports events that were televised globally", many instances of surrogate advertising had been noticed

Analysts remain bearish on liquor companies despite Q1 volume gains

Raw material pressures and lack of pricing power key reasons for this view

Delhi govt to open 500 liquor stores as old excise duty policy returns

Under the Excise Policy-2021, Delhi government withdrew itself from the liquor sale business and allowed the issuance of L-1 licences for 849 private retail liquor vendors through open bidding.

Why states are unwilling to take lessons from Delhi liquor excise saga

The controversy in Delhi reflects the enduring importance of this revenue source for state exchequers

Delhi govt likely to open 500 liquor vends from September 1: Report

According to a report, the Delhi govt is likely to operate as many as 500 liquor vends from September 1. The move comes amid the absence of no private players in the retail sale of alcohol

Delhi govt to revert to old retail liquor policy for next six months

Amid ongoing investigation by Delhi Police's Economic Offences Wing and a face-off between Lieutenant Governor VK Saxena and AAP government, the liquor policy row in the capital has taken a fresh turn

TMS Ep204: Tiruppur textile, Pallonji Mistry, liquor stocks, tokenisation

How can India create 75 more Tiruppurs? What legacy has Pallonji Mistry left behind? Will fizz return to liquor stocks? What is tokenisation? All answers here

Fizz returns to liquor stocks

With plateauing commodity prices, increased out-of-home consumption and some state govts reducing taxes, the worst may be behind the liquor sector. Find out if investors should pick up related stocks.

Time to raise a toast to liquor stocks? Selectively, say analysts

Analysts believe the worst may be over for the sector, with out-of-home (OOH) consumption picking up, and reduction in taxes by some state governments

How Delhi's new excise policy sinks spirits of private liquor retailers

The new excise policy of the state government had allowed the entry of private liquor retailers for the first time

Liquor rates to drop 30-40% in Punjab as Cabinet approves new excise policy

Prices of liquor in Punjab are expected to drop by at least 30 to 40 per cent to be on par with the rates in Union Territory Chandigarh and Haryana, with the state Cabinet of the AAP-led government approving its first excise policy on Wednesday. Chief minister Bhagwant Mann-led government set a target of collecting Rs 9,647.85 crore, 40 per cent up from the revenue mobilised from the liquor business last year. The new excise policy for the year 2022-23 was approved in the state Cabinet meeting chaired by chief minister here. A spokesperson of the Chief Minister's Office said the policy strives to keep a stringent check over smuggling of liquor from the neighbouring states through extensive enforcement and by incorporating new technological measures. Meanwhile, BJP leader Manjinder Singh Sirsa accused the AAP government of replicating the Delhi excise model to benefit a few. @Aam AadmiParty is abusing Punjab state machinery & replicating Delhi model of excise in Punjab to benefit a

Jharkhand government to take over wholesale, retail sale of liquor

The state Cabinet on Wednesday approved four major amendments in the excise policy related to rules of wholesale and retail sale of liquor and other related cases.