This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
News
Sale of imported spirits to soar in India
The sale of imported spirits including duty free travel trade in India is likely to cross the five million case mark by 2015, reported industry body The Associated Chambers of Commerce and Industry of India (ASSOCHAM).
ASSOCHAM also said that by the end of 2012 Indians would have consumed 10.2 million cases of vodka.
“Growth of imported spirits in India is largely driven by the spurt in tendency amid young Indian professionals and entrepreneurs to migrate from local brands to international brands,” said ASSOCHAM’s secretary general D.S. Rawat.
“With more number of Indians travelling abroad for studying and other professional reasons, their fondness for imported liquor is also rising which is certainly leading to growth in the business as they acquire taste for imported liquor and can afford to buy the expensive spirits from duty-free shops abroad.”
India is likely to witness accelerated levels of growth in sales of alcohol in tier II and tier III cities as companies are focusing on retail channels like bars, restaurants and pub joints across these towns, the report said.
ASSOCHAM explained the overall alcohol consumption in India is growing at about 30% per year and is likely to reach about 20,000 million litres in the next 3 years from current level of about 7,000 million litres.
Wine consumption in India is likely to reach around 14.7 million litres (in volume terms) by the end of 2012 from around 4.6 million litres in 2008 registering a growth of 35% during the course of past 4 years, according to ASSOCHAM.