Indian Liquor: India s local spirits like Indri, Amrut, and Rampur by Radico Khaitan have gained popularity while exports could cross $1 billion in few years. Rajesh Agrawal, additional secretary at the commerce ministry, said the global demand for Indian alcoholic beverages is rising. Alcohol exports reached $230 million from April-Oct, aiming to surpass the previous year s $325 million by March 2024
India s local spirits like Indri, Amrut, and Rampur by Radico Khaitan have gained popularity while exports could cross $1 billion in few years. Rajesh Agrawal, additional secretary at the commerce ministry, said the global demand for Indian alcoholic beverages is rising. Alcohol exports reached $230 million from April-Oct, aiming to surpass the previous year s $325 million by March 2024
Alcoholic beverages makers body CIABC on Sunday sought greater market access for domestic products in the European markets and removal of non-tariff barriers to boost exports. Confederation of Indian Alcoholic Beverage Companies (CIABC) said that the EU should remove the non-tariff barriers which prevent the vast majority of Indian products from being sold in their market.
ICRA predicts that domestic alcohol beverage companies in India will experience steady revenue growth of 8-10% in FY2024. The industry saw a strong recovery in FY2023 after two pandemic-affected years, with revenues exceeding pre-COVID levels. The alcohol consumption is expected to remain stable due to factors such as urbanization, rising disposable incomes, and favorable demographics.