Indian demand for imported spirits soars06 July 2012
Sales of imported spirits in India are set to hit 5 million cases, or 55 million litres, by 2012, according to new research.
The market, which includes the duty free travel trade, is growing 25% each year. Currently 3.1 million cases, or 28 million litres, are sold each year according to the research, conducted by The Associated Chambers of Commerce and Industry of India (ASSOCHAM).
DS Rawat, ASSOCHAM’s secretary general said: “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.”
“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.”
According to ASSOCHAM, overall spirit consumption in India is growing at a 30% compound annual growth rate and is likely to reach about 20,000 million litres in the next three years from current level of about 7,000 million litres.
Meanwhile, wine consumption in India is likely to reach around 14.7 million litres by the end of 2012 from around 4.6 million litres in 2008.
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