Author Archives: Janhavi Panani

Penfolds grows exponentially in the Indian market

For over 180 years, Penfolds has been at the forefront of Australian winemaking, known globally for its pioneering spirit, craftsmanship, and commitment to quality. Established in 1844, the brand has built a reputation for creating highly regarded collectible wines, underpinned by its distinctive philosophy of multi-vineyard, multi-regional blending. Yodissen Mootoosamy, General Manager, Penfolds Global Sales outlines Penfolds strategy for the Indian market.

Yodissen Mootoosamy, General Manager, Penfolds

What kind of presence does Penfolds have in India?

Our key focus markets in India include Mumbai, Delhi, Bangalore, Haryana and Rajasthan. In addition to these markets, we are also actively expanding into high-potential regions such as Pune, as part of our broader strategy to strengthen Penfolds’ presence across India and drive market penetration. Additionally, our wines are also available in Uttar Pradesh, Tamil Nadu, Chandigarh and Uttarakhand.

What are the wines available in India?

Penfolds current portfolio in India includes our Koonunga Hill range, Bin offerings such as Bin 2 Shiraz Mataro, Bin 28 Shiraz, Bin 128 Coonawarra Shiraz, Bin 389 Cabernet Shiraz and Bin 407 Cabernet Sauvignon. The portfolio is thoughtfully selected based on key considerations such as consumer demand, pricing strategy and value chain alignment, ensuring we deliver both quality and accessibility for Indian wine consumers.

This selection is especially relevant in light of the growing premiumisation trend in India—66% of consumers report buying more premium wines than before, with 58% saying they are purchasing more high-end wine. Coupled with the increased consumption of wine during celebrations or special occasions, this presents a unique opportunity for Penfolds to offer elevated experiences that resonate with evolving consumer preferences.

What is your narrative for Penfolds wines in India?

With growing interest in global wine culture among Indian consumers, there is a unique opportunity to bring the story of Australian wine to a broader Indian audience. At Penfolds, we see education and storytelling as fundamental to building a lasting connection with the new generation of Indian wine enthusiasts—many of whom are just beginning to explore the world of global wine culture. We do this by bringing the Penfolds story to life from our rich 180 year plus winemaking legacy in Australia to our global collection that now includes wine from the U.S.A, France and China.

We conduct immersive and curated tasting sessions, masterclasses, and interactive events that go beyond the technicalities of wine and focus on its experience such as what it feels like to discover a new varietal, how wine can elevate local cuisine and the stories behind icons like Penfolds Grange. These activations are designed not only for connoisseurs, but also for curious first-time drinkers who are eager to learn, explore and connect with wine in a way that feels authentic and aligned with their lifestyle.

We also embrace India’s vibrant calendar of celebrations and gifting traditions by offering festive

packaging that elevates the experience of gifting wine. We introduced our limited-edition Bin 389 Cabernet Shiraz and Bin 2 Shiraz Mataro gift packs in India this year, both of which are thoughtfully designed to capture the warmth and richness of festive celebrations, featuring textured finishes and a refined palette of deep red and gold accents.

Beyond aesthetics, these packages are thoughtfully designed to make premium wine an aspirational yet approachable gift for weddings, Diwali, and other celebrations. By aligning with local customs and the importance of gifting in Indian culture, we position Penfolds as more than a bottle of wine—it becomes a meaningful gesture of sophistication and celebration. This approach allows us to tap into the emotional significance of gifting, creating a strong connection between Penfolds and life’s most memorable moments.

What are the price points for Penfolds wines in India?

Wine pricing in India varies across states due to local regulations and taxes. For example, Penfolds Bin 389 Cabernet Sauvignon Shiraz is priced between `8,320 and `11,800, while Bin 2 Shiraz Mataro ranges from `3,230 to `5,500.

We recognise that India’s alcobev market is highly state-driven, and our strategy reflects this complexity. By working closely with local partners and distributors, we aim to make Penfolds available in key metropolitan hubs and emerging wine markets, ensuring that enthusiasts and first-time buyers alike can experience our wines.

How do you plan to promote Penfolds wines in India?

India’s alcobev market is evolving, driven by millennials and Gen Z who are curious, experience- driven, and increasingly open to exploring premium wine as a lifestyle choice. At Penfolds, we see this as an opportunity to go beyond traditional marketing and create authentic, aspirational experiences that resonate with this new generation of consumers. We’ve been making strategic investments to connect with these consumers in meaningful and culturally relevant ways.

Through initiatives such as our culture-led limited-edition releases, and immersive wine tasting experiences, we’re redefining how consumers engage with wine. By blending elements of art, music, and storytelling, we aim to create memorable, multi-sensory experiences that go far beyond the traditional tasting, fostering a deeper, more emotional connection with the Penfolds brand.

We recognise that building awareness and aspiration around premium wines requires more than just availability—it requires education, experience, and engagement. Our strategy focuses on three key pillars:

Storytelling and Education: We aim to share the rich history and craftsmanship behind our wine through curated tastings, wine education programmes, and partnerships with sommeliers, wine influencers and content creators in India.

Experiential Marketing: We’re bringing the Penfolds experience directly to consumers through luxury retail placements, fine dining collaborations, exclusive tasting events and bar takeovers.

Tailored Portfolio: While we remain committed to showcasing our flagship wines like Penfolds Grange, we also offer a diverse portfolio that includes wines across various price points, ensuring accessibility while maintaining the distinct craftsmanship and quality Penfolds is known for.

Our focus is not just on selling wine, but on creating aspirational touchpoints that make wine more approachable, relevant, and desirable for a new wave of Indian consumers.

How is Penfolds faring worldwide?

Penfolds continues to resonate with consumers through innovation and cultural relevance. Initiatives such as our From Penfolds to the World pop-up and retail placements, limited-edition packaging and immersive tasting experiences like Transcend have reinforced brand equity, cementing Penfolds as a benchmark of excellence in the luxury wine category.

Which country is your major market?

Understandably, Penfolds resonates strongly in our home market in Australia, however Asia is a significant growth engine for the brand.

Within Asia, India stands out as a market with strong potential and promising long-term growth. While it’s still relatively young compared to more mature wine markets, the premium wine segment is at a very exciting inflection point, and the pace of evolution is remarkable. We’re seeing a growing base of urban, globally connected consumers who are not only willing to explore premium wines, but are also actively seeking authenticity, craftsmanship, and brand stories that resonate with their lifestyle.

United Breweries launches Kingfisher Smooth

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United Breweries Limited (UBL), part of the HEINEKEN Company, has launched Kingfisher Smooth. Brewed using imported hops and containing no added sugar, it delivers a smooth, balanced taste while retaining the strength consumers expect.

While Kingfisher Strong remains the benchmark for a classic, full-bodied beer, Kingfisher Smooth expands the flagship brand’s portfolio, reinforcing UBL’s commitment to innovation and consumer centricity. Kingfisher Smooth is now available across Rajasthan. It is priced at Rs. 100 for a 330 ml bottle, Rs. 145 for a 500 ml can, and Rs. 185 for a 650 ml bottle.

**L-R: Mohit Raina, Category Director & Vivek Gupta, Chief Executive Officer, United Breweries Limited**

Speaking on the launch, Vivek Gupta, Chief Executive Officer, United Breweries Limited, said, “Kingfisher has played a pioneering role in shaping India’s beer category, and we are a key recruiter to the segment, bringing young legal-age consumers into beer. With Kingfisher Smooth, we are introducing a first-ever game-changing innovation in the mainstream strong beer segment, designed for next-generation consumers. We’ve put intensive research, design and consumer testing into this launch, resulting in a winning combination of superior brew and packaging that reflects our commitment to innovation and our brand investments.”

“The strong beer segment continues to dominate beer consumption in India, and as drinking occasions diversify, we are seeing more consumers seek smoother, more approachable strong beers that are easier to enjoy without compromising the familiar taste they value. These insights are backed by extensive consumer testing, and Kingfisher Smooth addresses this shift by delivering a more balanced strong beer experience aligned with contemporary consumption occasions.”, added Vikram Bahl, Chief Marketing Officer, United Breweries Limited.

Different flavours of Johnnie Walker

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Tim Philips, the Global Brand Ambassador for Johnnie Walker and one of the world’s most awarded bartenders shares insights on the rise of cocktail culture, the growing openness of consumers to experiment with new flavors and serves, and how these trends are shaping the industry’s future. His insights will highlight the dynamic ways whisky is being reimagined in contemporary mixology, driving new trends and experiences.

What are the changes you see in India as a whisky producing nation?

India is truly emerging as a true whisky-producing powerhouse. The pace of innovation in local distillation, the experimentation with cask finishes and the development of distinct regional flavours is remarkable. Indian producers are increasingly combining traditional craftsmanship with bold, creative approaches, which is earning recognition not just locally but globally. It shows that India is not just a consumer of whisky, it’s a creator with its own voice in the whisky world.

Scotch Whiskies have never been popular as the base for cocktails. Do you see that changing as the market evolves?

Absolutely. Scotch has traditionally been enjoyed neat or on the rocks, especially here in India, but that’s changing. There’s a younger audience that wants to explore Scotch in a more versatile way. As bartenders experiment with flavour-forward cocktails using Scotch, we can see a new whisky culture taking shape, where Johnnie Walker shines in both classic serves and innovative drinks. It’s an exciting time for whisky lovers.

What are the botanicals you plan to use to find favour with the Indian palate?

Johnnie Walker whiskies are naturally complemented by the rich tapestry of spices and flavours found in India. Citrus, ginger, cardamom, clove, and cinnamon are obvious places to start.

My goal is to help create cocktails that feel authentic to India while still celebrating the integrity of Scotch. India has so much regional diversity and seasonality to celebrate. When you buy locally, spices, fruits, and herbs all sing much louder in drinks.

How would you describe the young Indian consumer’s taste for alcobev drinks?

Young Indian consumers are adventurous, curious and open to new experiences. They enjoy global flavours and craft spirits, while still valuing the richness of local traditions. For them, it is not just about the liquid, it’s about the story, the journey, and the connection behind every sip. This mix of curiosity and sophistication makes India an incredibly exciting market for whisky innovation and premium experiences.

What is the Johnnie Walker formula for whisky cocktails in India?

It’s always a liquid first approach for us. Whisky is the star, and every ingredient is selected to enhance, not overpower its character. In India, it is about crafting drinks where the depth, smoke and subtle sweetness of Johnnie Walker are at the center, complemented by spices, citrus, or fruit that feels authentic to the local palate.

It’s about creating cocktails that are approachable and innovative, while staying true to the craftsmanship and heritage of Johnnie Walker. At the end of the day, the best outcomes will come from working with the intrinsic features of Johnnie Walker. Flavour profiles such as malty, spicy, fruity, fresh, floral, and smoky are, for instance, very significant to dive ‍‌‍‍‌‍‌‍‍‌into.

How flavour preferences and bar culture are influenced by global trends?

Global trends have expanded what Indian consumers expect from their bar experiences. Techniques like smoke-infused cocktails, barrel-aging, and molecular mixology are no longer niche, they are all the ways in which bartenders in India are being inspired to experiment and elevate their craft.

What’s particularly exciting is how Indian bartenders are taking these global techniques and transforming them through a local lens. By incorporating flavours like cardamom, ginger, cinnamon, tamarind and citrus, they are creating cocktails that are inventive yet rooted in Indian tradition. The fusion of global expertise with local creativity is shaping India’s bar culture, making it dynamic.

What kind of your experience would you like to bring to the bar table?

I bring over 20 years of hospitality experience, a thorough knowledge of Scotch and a passion for sharing the story behind every Johnnie Walker blend. My focus is on inspiring both bartenders and consumers to explore flavours, craft cocktails and elevate their whisky experiences. I urge all consumers to explore with confidence the variety in Scotch cocktail and find the right serve for your palate.

India’s Alcohol Economy in 2025: Scale, State Power, and Structural Friction

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India’s alcoholic beverages sector moved through 2025 with steady demand and sharper value realisation. ICRA projected FY2025 volume growth at 4–5%, supported by easing input costs, while a later FY2026 update indicated revenue growth of 10–12% driven by higher realisations. Public estimates continue to place India’s drinks market near USD 60 billion.

State finances reinforced the sector’s importance. PRS Legislative Research highlights excise as a significant contributor to state revenues, with prohibition states as exceptions. Several states also accelerated digitisation and enforcement. Haryana’s rollout of QR-based track-and-trace systems, automated interest computation, and tighter compliance illustrates the administrative direction shaping operations nationwide.

Avneet Singh, Founder & CEO, Medusa Beverages

Yet operating reality remained state-defined. Entry timelines, label registrations, wholesale structures, retail formats, and duty resets vary widely, pushing brands to plan with state granularity rather than national uniformity. Avneet Singh, Founder & CEO, Medusa Beverages, notes, “Taxes can be 60–80% of the final retail price depending on the state,” adding that excise changes shape pricing and supply planning.

Hasan Bakhtawar, COO – Cased Business, Angus Dundee India

Hasan Bakhtawar, COO – Cased Business, Angus Dundee India, frames it as executional load: “Each state has its own unique regulations, permit requirements, and compliance processes,” with limited flexibility once excise terms are set.

Rakshay Dhariwal, Founder & MD, Maya Pistola Agavepura

For newer brands, uncertainty compounds the challenge. Rakshay Dhariwal, Founder & MD, Maya Pistola Agavepura, says, “The real challenge isn’t the variation itself, it’s the unpredictability.”

Abhinav Jindal, CEO & Founder, BeeYoung Beer

Abhinav Jindal, CEO & Founder, BeeYoung Beer, calls regulatory volatility “the most material risk to long-term capital deployment.” Sharad Tibarewala, Brand Owner, MCKT Beverages, maintains that provenance and heritage offer stability even when policy varies.

Sharad Tibarewala, Brand Owner, MCKT Beverages

Despite friction, consumption patterns strengthened. Singh points to “quality-over-quantity drinking,” estimating 20–25% growth in premium beer, alongside rising mid-ABV and draught demand. Jindal describes a shift from volume-led to value-led consumption, while Tibarewala links premiumisation to identity and craftsmanship, anchoring Khukri Rum’s positioning in Himalayan provenance.

Sanaya Dahanukar, Marketing Manager, Tilaknagar Industries Ltd

“The mid-range segment followed a separate logic. Sanaya Dahanukar, Marketing Manager, Tilaknagar Industries Ltd., attributes 2025’s momentum to ‘disciplined price-tiering and price-laddering,’ driven by strong brandy familiarity in the South and a whisky strategy designed to guide consumers across price points. Hasan Bakhtawar adds that mid-price growth is being supported by value-seeking behaviour anchored in trusted regional brands.”

Portfolio strategy grew more disciplined. Excise slabs compress price bands, forcing brands into narrow MRP clusters. State-wise SKU pruning, excise-year timing, and distributor economics now dictate leaner, market-specific assortments. Many brands defer launches to avoid partial-year exposure, prioritising fewer, better-timed entries.

Innovation in 2025 favoured defensible ideas. Jindal calls this “disciplined innovation,” while Singh highlights launches sustained by story and visual identity in a restricted advertising environment. Dhariwal and Gadvi link packaging to meaning, usability, and education, especially for younger consumers.

Looking ahead, 2026 will hinge on predictability. While premium, craft, and low-ABV segments gain traction, fragmented excise architecture remains the sector’s defining constraint. Brands entering the next cycle with disciplined portfolios, operational readiness, and clear brand meaning are best placed to convert demand into durable growth.

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How DEWAR’S Is Redefining the Modern Drinking Experience

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As India’s drinking culture evolves, the idea of indulgence is being quietly rewritten. Today’s consumer is no longer defined solely by what they drink, but how and why they drink it. Mindful moderation, premium non-alcoholic options, and experience-led consumption are reshaping bars, homes, and social rituals across the country. Bhavya Desai spoke to Inderjit Singh Dhingra, General Manager, Brown Spirits (India), Bacardi India on how DEWAR’S is navigating this transformation. Excerpts:

Inderjit Singh Dhingra, General Manager, Brown Spirits (India), Bacardi India

The non-alcoholic segment in India, Dhingra explains, is no longer a secondary choice or a compromise. Instead, it has emerged as one of the most dynamic spaces in the beverage landscape. Consumers today are making deliberate choices where they are choosing drinks that align with their lifestyles, moods, and social settings. And this ritual matters as much as the liquid. Glassware, presentation, complexity of flavour and the overall experience are now central to consumption—as much as the spirit.

This shift toward mindful moderation has prompted DEWAR’S to move beyond a traditional spirit-only mindset. The brand’s entry into premium mixers reflects a broader philosophy—one that ensures that every drink, alcoholic or otherwise, delivers the same standard of quality. Whether paired with a fine aged Scotch or enjoyed on its own, the aim is to make every moment feel elevated and intentional—and that Dhingra says is true to the DEWAR’S way.

What is particularly striking is how wide the appeal of this category has become. From younger consumers seeking visually appealing, well-crafted drinks, to seasoned whisky enthusiasts looking for balance without sacrificing quality, premium non-alcoholic options are finding a place across demographics. Even more traditional audiences are embracing these choices as part of modern socialising.

For DEWAR’S, this inclusivity fits naturally with its belief in experience-led drinking. Dhingra adds that for them every guest matters, and every serve should feel considered. By bringing craftsmanship and sophistication into mixers like soda and tonic water, the brand is extending its values beyond whisky— ensuring consistency in quality across the entire drinking occasion. Of course, that also gives them the fire power to do surrogate and expand the brand communication—an age old trick that many have used before.

Looking ahead to 2026, Dhingra points out that the way people drink is changing just as much as what they drink. Insights from Bacardi’s Cocktail Trends Report reveal a more intentional consumer—one who is trading up, learning more and engaging deeply with flavour and technique. Premiumisation is no longer reserved for special occasions; it has become an everyday expectation.

India’s consumers are also becoming increasingly cocktail-curious, eager to understand ingredients, methods and the stories behind their drinks. Social rhythms, too, are evolving. Earlier evenings, afternoon highballs and intimate gatherings are replacing late-night excess. The focus is shifting to meaningful connection— “day caps” instead of nightcaps—where quality trumps quantity. It is within this thoughtful, experience-first mindset that DEWAR’S feels most at home.

At the centre of DEWAR’S growth is a distinct consumer profile the brand calls “Life Explorers”. These are individuals who value authenticity, cultural awareness and enriching experiences over overt status symbols. Typically aged between 25 and 45, with higher disposable incomes, they invest in premium spirits and curated moments rather than fleeting trends. They are digitally engaged, socially active, and eager to share experiences—fuelling organic brand affinity.

Notably, DEWAR’S has also broadened its appeal beyond traditional whisky drinkers. As whisky appreciation becomes more inclusive, the brand has attracted a higher proportion of female consumers in India—around 34%, compared to the industry average of 24%. For these consumers, fulfilment comes from balance: success paired with freedom, and discovery paired with contentment.

Performance-wise, DEWAR’S continues to set benchmarks. It is currently the fastest-growing Scotch whisky in its segment, delivering a CAGR of over 30% in the last three years and maintaining year-to-date growth of over 25%. Yet, as Dhingra emphasises, what truly sets the brand apart goes beyond numbers.

DEWAR’S holds the distinction of being the world’s most awarded blended Scotch whisky—a testament to its unwavering commitment to quality. Central to this success is Master Blender Stephanie Macleod, whose ability to balance tradition with innovation has earned her the title of World’s Best Master Blender for six consecutive years. Her craftsmanship ensures that DEWAR’S remains timeless while continuing to resonate with today’s evolving consumer.

India, the world’s largest whisky market, represents a pivotal opportunity for the brand he adds. With the India–UK Free Trade Agreement expected to come into effect soon, Scotch whisky is poised to reach a wider consumer base than ever before he feels. For DEWAR’S, this makes India a must-win market.

The roadmap ahead focuses on consolidating leadership while sustaining momentum. Beyond scale and distribution, the brand is committed to building deeper connections through liquid innovation, immersive experiences, and culturally relevant storytelling. At its core, DEWAR’S remains anchored in its founding philosophy—creating moments and stories worth sharing.

He concludes that as India’s drinking culture continues to mature, DEWAR’S is not just raising a glass to growth, but to curiosity, craftsmanship, and connection. Here’s to discovering more. Here’s to the story.

Cocktails to Ring in the New Year

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As the year draws to a close, here’s a curated line-up of versatile cocktails made for celebrations that stretch well past midnight. Thoughtfully crafted and full of character, these drinks go far beyond simply popping open a bottle, perfect for ringing in the New Year in style.

The Oasis by Godawan Artisanal Single Malt

A slow, contemplative cocktail that leans into ritual and terroir, The Oasis brings together Godawan 01 PX Sherry Cask and coffee-infused vermouth, rested gently in clay to absorb the earthiness of desert winds. Rich, aromatic, and quietly complex, it’s a grounded, meditative sip to ease into the New Year.

Ingredients

Godawan 01 Rich & Rounded – 50ml
Coffee-infused sweet vermouth – 15ml
Aromatic bitters – 2 dashes

Method

Combine all ingredients and rest the mixture in a clay pot for 6–8 hours.
Stir gently before serving.

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Pistola Paloma by Maya Pistola Agavepura

Bright, effervescent, and effortlessly celebratory, the Pistola Paloma is made for New Year toasts that call for freshness over fuss. Built on Pistola Joven’s smooth yet vibrant agave character, this cocktail brings together zesty grapefruit, sharp lime, and a gentle sparkle—perfect for easing into the year ahead with a citrus-led kick.

Ingredients:

Pistola Joven – 60ml
Grapefruit juice – 45ml
Lime juice – 15ml
Agave nectar – 15ml
Saline – 5ml

Method:

Fill a glass with ice.
Add Pistola Joven, grapefruit juice, lime juice, agave nectar, and saline.

——

The Golden Hour by Monarch Legacy Edition x Bartisans

Golden Hour is your go-to for effortless at-home cocktails this New Year. Created in collaboration by Bartisans and Monarch Legacy Edition, this non-alcoholic festive mixer features notes of rose, saffron, and cardamom, designed to pair seamlessly with Monarch’s pure grape brandy. Together, they create a simple and celebratory cocktail to enjoy as the New Year begins

Ingredients:

Monarch Legacy Edition Brandy – 60 ml
Bartisans Golden Hour Mixer – 90 ml
Ice

Method:

Add Monarch and Golden Hour mixer into a shaker or mixing glass with ice.
Shake or stir to chill and blend.
Strain into a glass over fresh ice.
Garnish with a light dusting of cinnamon or a dried rose petal.

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Vanilla Old Fashioned by MONIN

A smooth, refined twist on a classic. MONIN’s Vanilla Syrup adds a soft sweetness that complements the warmth of bourbon, creating an elegant slow-sipper ideal for ending the feast on a high note.

Ingredients:

MONIN Vanilla Syrup – 10ml
Bourbon whiskey – 60ml
Bitters – a few drops
Ice cubes
Orange slice

Method:

Add vanilla syrup and bourbon to a glass.
Add bitters and ice, then stir gently.
Garnish with orange slice.

——

Golden Ember Sour by Tulleeho

Built on bourbon, honey, and ginger, the Golden Ember Sour balances warmth with brightness. Lemon cuts through the richness, while the silky foam brings everything together, making it an easy, elegant choice for ringing in the New Year.

Ingredients:

Vodka – 50 ml
Lychee juice (fresh or canned) – 30 ml
Elderflower syrup – 10 ml
Fresh lemon juice – 10 ml
Rose water – 2 drops

Method:

Add bourbon, lemon juice, honey syrup, ginger syrup, and egg white to a cocktail shaker (no ice).
Dry shake vigorously for 15-20 seconds to emulsify the egg white.
Add ice to the shaker and shake hard for another 10-15 seconds.
Fine strain into a chilled coupe glass.
Dash the Angostura bitters on top of the foam.
Garnish with an edible gold leaf or pinch of edible gold dust sprinkled on the foam or a dehydrated lemon wheel placed on the rim.

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Frosted Lychee Martini by Tulleeho

Designed for the moment the clock strikes twelve, the Frosted Lychee Martini is light, aromatic, and precise. Lychee and elderflower add gentle sweetness, balanced by lemon and a clean vodka base that keeps things fresh as the night moves forward.

Ingredients:

Vodka – 50 ml
Lychee juice (fresh or canned) – 30 ml
Elderflower syrup (such as St-Germain or homemade) – 10 ml
Fresh lemon juice – 10 ml
Rose water – 2 drops

Method:

Chill the martini glass in the freezer.
Add vodka, lychee juice, elderflower syrup, lemon juice, and rose water to a cocktail shaker filled with ice.
Shake vigorously for 10-15 seconds until well-chilled.
Fine strain into the chilled martini glass.

Garnish with a fresh lychee stuffed with a raspberry on a cocktail pick, lightly frosted sugar rim, and optional mist of edible rose water.

————

Savour Me Classic by Davana Vermouth Indica

Ring in the New Year with this savoury cocktail that balances the herbal sweetness of Davana Rosso with a kick from chilli tincture.

Ingredients:

Davana Rosso – 45ml
Tomato water – 60ml
Chilli tincture – 3-4 dashes
Citric acid – to balance

Method:

In a mixing glass, add all the ingredients.
Stir and strain into a glass with block ice and garnish the drink with edible tomato leather

——

Bee’s Knees by Vedant Newatia, Founder and Head Chef, Atelier V

Bright, zesty, and effortlessly smooth—the Bee’s Knees is sunshine in a glass. A classic Prohibition-era cocktail that hits the sweet spot between citrusy freshness and botanical gin notes, mellowed by a touch of honey. One sip, and it’s pure golden hour magic.

Ingredients:

Dry gin – 60ml
Honey syrup – 2tsp
Fresh lemon juice – 30ml
Fresh orange juice – 30ml

Method:

Stir the honey syrup with lemon and orange juices until fully dissolved.
Add gin and shake with ice until well chilled.
Strain into a chilled coupe or cocktail glass
Finish with a twist of lemon or orange zest.

December 2025 Issue

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The December 2025 issue of Ambrosia is now live! (Click here)

The December 2025 issue of Ambrosia Magazine is here!

It features engaging and insightful articles such as:

• INDSPIRIT 2026
• What to expect in 2026
• Updates on the MML vs ISWAI case
• Pernod Ricard: India’s bet on repertoire drinking
• India’s alcohol economy in 2025: Scale, state power, and structural friction
• Court allows PLL holders to register labels, pending final order
• Exclusive interviews with Pernod Ricard and Bacardi, and many more

As 2026 Beckons: Reading the Signals of a Changing Alcobev India

INDSPIRIT 2026 and Tunes & Tonic Announced

If the final month of this year is anything to go by, 2026 promises to arrive with more than just optimism — it comes with momentum. The year gone by has been anything but quiet for India’s alcobev industry. From the Maharashtra government’s face-off with ISWAI to intense conversations around state control, taxation, and regulatory balance, 2025 has underlined how scale, state power, and structural friction continue to define this business. Yet, amid these challenges, the industry has also demonstrated resilience, adaptability, and an unmistakable appetite for growth.

Throughout the year, Ambrosia has stayed at the forefront of these developments — tracking policy shifts, decoding consumer behaviour, and spotlighting growth stories that make India’s alcobev landscape one of the most dynamic in the world. It is an industry shaped as much by regulation as it is by aspiration, and one that continues to evolve at a pace few global markets can match.

And speaking of consumer behaviour, 2026 will also mark the 21st edition of INDSPIRIT 2026, alongside the debut of Tunes & Tonic, a new consumer-facing experience set to take place in Gurugram on 6–7 March 2026. Together, these events promise to be bigger, bolder, and more immersive — celebrating the industry’s achievements while creating an energetic, music-led atmosphere that resonates with today’s experience-driven consumer.

In this issue, we continue that focus. Our editorial lens turns firmly toward the year ahead, unpacking insights that help decode where the Indian consumer is headed in 2026. From changing drinking occasions and premiumisation to the growing influence of moderation, mixers, and experience-led consumption, these stories are designed to help brands, distributors, and industry stakeholders plan better — whether that means sharper portfolios, smarter strategies, or more meaningful consumer engagement.

For those looking to understand the year that was, our feature India’s Alcohol Economy in 2025 offers a comprehensive snapshot of the forces that shaped consumption, regulation, and market sentiment. Built on perspectives from industry leaders, the article captures both the pressures and possibilities that defined the past year.

Equally compelling are our conversations with Jean Touboul, CEO of Pernod Ricard India, and Inderjit Singh Dhingra of Bacardi. Their insights shed light on how consumer preferences are shifting, how brands are responding, and what trends are likely to shape portfolios and conversations in the year ahead.

As the industry steps into a new year, one thing is clear — 2026 will reward those who listen closely to the market, adapt swiftly to change, and remain committed to quality and relevance. The challenges are real, but so are the opportunities. At Ambrosia, our endeavour remains unchanged: to inform, to question, and to provide clarity in a fast-evolving landscape. As the next chapter unfolds, we look forward to chronicling an industry that continues to redefine itself — one decision, one policy, and one drink at a time.

Marrowbone Lane Irish Whiskey and the Long Game of Cask Investment

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Emerging as an alternative Asset Class
Moving beyond consumption to custodianship, and from the bottle to the barrel

Whisky is no longer viewed solely as a drink to be enjoyed in the glass. Over the past decade, it has steadily emerged as an alternative asset class, with whisky cask ownership gaining traction among collectors and long-term investors worldwide. Unlike bottled whisky, which is static once released, a cask is a living asset, one that matures year after year, gaining complexity, character and scarcity over time. This quiet evolution has drawn growing interest from investors seeking assets shaped by patience rather than volatility.

As global demand for premium and aged whisky or whiskey (as the Irish and Americans spell) shifts eastward, Asia has become central to this transformation. While traditional hubs such as Scotland and Ireland remain the custodians of production and ageing, participation is increasingly international. Southeast Asia has established itself as a regional trading and storage hub, while South Asia, particularly India, is beginning to engage with whisky not just as a consumer market, but as a participant in the upstream economics of maturation and long-term investment opportunity.

It is within this context that Marrowbone Lane Irish Whiskey (MLIW) positions itself, rooted in heritage, guided by restraint, and aligned with the long arc of whisky itself.

A Peek into Dublin’s Distilling Past

Marrowbone Lane is one of the oldest streets in Dublin’s historic Liberties district, an area whose origins stretch back to the 17th century. For generations, the Liberties served as an epicentre of skilled trades, housing coopers, brewers, merchants and distillers who formed the backbone of Ireland’s whiskey economy.

By the late 19th century, this compact neighbourhood was home to some of the world’s largest distilleries and exported more whiskey globally than Scotland. Though the industrial landscape has changed, the legacy of craftsmanship and resilience remains etched into the cobbled streets and historic warehouses of Dublin 8. Marrowbone Lane Irish Whiskey takes its name from this lineage, not as a stylistic flourish, but as a statement of values.

Premium Whiskey Stocks

Marrowbone Lane Irish Whiskey draws its identity from the people and practices that shaped Ireland’s whiskey reputation long before its modern revival. Rather than pursuing high-volume production, the Ireland-linked, UK-based house focuses on the long-term stewardship of premium whiskey stocks.

Working exclusively with licensed distilleries and bonded warehouses in Ireland and Scotland, the emphasis is clear: patience over pace, provenance over promotion. The approach reflects a belief that whiskey rewards time, discipline and transparency, principles increasingly important as interest in cask ownership expands globally.

Founder and Senior Partner Professor Vijay Edward Pereira has consistently underscored that whiskey cask ownership should be approached as a long-term commitment rather than a speculative trade. Value, he notes, is created through maturation, responsible warehousing and careful asset management, not quick exits or inflated expectations.

Opening the Cask Door for India

Marrowbone Lane occupies a distinctive position in India’s evolving whisky landscape. “It is the first company to formally enable Indian participants to legally own maturing whiskey casks stored in duty-suspended bonded warehouses in Ireland and Scotland, a category traditionally limited to distillers, bottlers and institutional buyers in Europe,” states Gora Mukherjee who is joining in January as Global Director – Commercial of Marrowbone Lane Irish Whiskey.

Through structured offerings, participants gain access to properly documented, regulated cask ownership aligned with international best practices. This marks a fundamental shift in how Indian consumers engage with whisky, moving beyond consumption to custodianship, and from the bottle to the barrel. The model introduces governance, traceability and education into a space that has historically lacked clarity, positioning cask ownership as a long-term engagement rather than a transactional product.

Irish Whiskey, One of the fastest-growing spirits

Irish whiskey is among the fastest-growing spirits categories globally, supported by premiumisation, a younger and more globally exposed consumer base, and rising interest in aged expressions. India, in particular, has emerged as a high-potential market, not only driving consumption but increasingly influencing upstream demand for maturing stocks held in Ireland.

This growth has shifted attention from retail shelves to distilling capacity, bonded warehousing and long-ageing inventories, reinforcing the strategic importance of cask management and long-term planning.

Cask Ownership

At its core, whisky cask ownership involves holding new-make spirit or maturing whisky in oak barrels within licensed bonded warehouses. Over time, interaction between spirit, wood and environment enhances flavour, while evaporation, the “angel’s share”, steadily reduces volume, increasing scarcity.

Each cask is a tangible, regulated asset, valued on factors such as distillery provenance, age, cask type, alcohol strength, expected yield and global demand. Entry points for Indian participants are designed to be relatively accessible by international standards, lowering barriers to a category traditionally perceived as exclusive.

An Alternative Asset

Internationally, whisky casks are often discussed alongside other alternative assets such as fine wine, art and classic automobiles. Historical performance has shown steady appreciation driven by maturation and limited aged stocks. However, experts caution that returns are not guaranteed. Liquidity is limited, holding periods are long, and ownership should not be equated with regulated financial products.

Mike Ward, Founding Partner at Marrowbone Lane Irish Whiskey, reinforces this disciplined outlook. “Irish and Scotch whiskey earned their reputations over centuries, not seasons. If a whiskey is worth making, it is worth waiting for,” he says.

A Category Defined by Time

As global whisky demand continues to rise, the conversation is evolving, from labels and launches to the quieter economics of ageing, bonded storage and stewardship. For Marrowbone Lane Irish Whiskey, opening cask ownership to Indian participants is not about speed or scale, but about building the category responsibly. In a world driven by immediacy, whisky remains an exception shaped not by urgency, but by time.

R. Chandrakanth

Ambrosia

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Court Allows PLL Holders to Register Labels, Pending Final Order

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Government defends ‘Maharashtra Made Liquor’ (MML) policy citing increase in revenue by 17%
On December 16, United Spirits Limited applies for new label license – McDowell’s Century Blended Whisky, under MML category
64% of the total liquor manufactured in 2024–25 is from nine potable liquor license (PLL) holders
MML necessary to revive struggling domestic license holders, government contention
Section 49 of Maharashtra Prohibition Act Invoked, Questions Locus Standi of ISWAI

The Bombay High Court in its hearing on December 23 has allowed all companies to apply and directed the Excise Department to process their application for Maharashtra Made Liquor (MML) license, irrespective of earlier conditions. The Interim direction is subject to the final order.

The Court has posted the next hearing to January 19, 2026.

Justice Revathi Mohite Dere and justice Sandesh Dadasaheb Patil are hearing the case. It must be mentioned here that Justice Dere has been recommended as Chief Justice of Meghalaya starting mid January.

The December 23 directive basically states that all potable liquor licenses (PLL) holders should be allowed to apply for production and sale of MML and the Department must process their applications as if the exclusionary clauses 2 and 3 of the Government Regulations don’t exist (examples being Registered Office should be in Maharashtra; minimum 25% locally resident Directors; no foreign investment etc).

Department Cites Revenue Increase

On December 16, the Government of Maharashtra, had defended in the Court the MML policy, stating that it had led to a nearly 17 per cent increase in excise revenue. The government informed the Court that it had invoked Section 49 of the Maharashtra Prohibition Act, which gives it ‘exclusive privilege on trade in excisable articles’, thus questioning the locus standi of the International Spirits and Wine Association of India (ISWAI) which has filed the petition challenging the MML policy.

The government made the submission in response to the petition of ISWAI which represents several companies including global giants such as Pernod Ricard, Diageo and Bacardi.

The State Government took shelter under Section 49 of the Maharashtra Prohibition Act to argue that trade in excisable articles remains the exclusive privilege of the government, which may be conferred only upon license-holders for consideration.

While acknowledging that one ISWAI member, Pernod Ricard India, holds two potable liquor licenses (PLL), in Nashik and Kolhapur, the government affidavit said that most other members do not operate manufacturing units in Maharashtra. The State questioned ISWAI’s locus standi to challenge the policy, pointing out that ISWAI does not hold any potable liquor license.

“The State government has not imparted this privilege to ISWAI, it does not hold the right to bring an action against the policy decision on behalf of the alleged members of the association.”

Excise Revenues Surge

The Government representatives also made out a case of how excise revenue had surged post introduction of the policy. The excise collections between July and November 2025 rose from ₹9,665.64 crore in 2024–25 to ₹11,299.40 crore in 2025–26, it mentioned.

This growth contrasts with the average 12% rise recorded between April and June 2025, before duty revisions and the rollout of MML. “This shows positive growth after introduction of new policy,” the government said. The government further argued that the policy was aimed at addressing an uneven competitive landscape, promoting local liquor manufacturers and reviving idle capacities in domestic distilleries.

The government said that about 64% of the total liquor manufactured in 2024–25 came from nine potable liquor license (PLL) holders, many linked to ISWAI members or their subsidiaries. The State argued that these figures justified creation of the MML category and a reserved, incentive-based policy was necessary to revive struggling domestic license holders.

ISWAI had challenged the policy as arbitrary and discriminatory, arguing that it violates Article 14 of the Constitution by creating “a preferential class” of PLL holders who alone may manufacture MML, while excluding similarly placed licensees, including its members.

ISWAI argued that this criteria defeats the purported objectives of employment generation, investment promotion, full-capacity utilisation of distilleries and enhancement of excise revenue. It added that the same policy goals could be achieved by allowing all PLL holders to produce MML rather than reserving lower taxes and a price brand for a narrow class of locally structured licensees.

Even while, the Court is hearing the case, United Spirits Limited with unit in Chikhalthana in Aurangabad taluk has applied under MML category a label by name ‘McDowell’s Century Blended Whisky to be sold exclusively in Maharashtra.

Court Directs Department to Open Portal for Label Registration

On November 24, the Court had allowed the State and other stakeholders to go ahead with preparatory steps for execution of the policy decision, but clarified that the same will be without prejudice to the outcome of the case.

The Court had directed the Government representatives to open the portal for any alcobev player from within the state. However, till December 9, the excise department had not facilitated that process, forcing the Court to take notice of that and cautioning the government. A two-judge bench headed by Senior Judge Revathi Mohite Dere asked why the excise department had not followed the court directive and cautioned the government that it would take serious notice of the lapse.

Department Holds Right to Accept or Reject Application

Sources in the Excise Department clarified that the portal is open for anyone to file an application for registering their labels, but it is the department’s prerogative to accept or reject the application.

The ISWAI contention has been that the process for companies to get their labels registered is time-consuming, not less than 45 days, and with the court case going on there would be further delay. This, the ISWAI source mentioned would give undue advantage to the eight players who have been granted licenses to set up MML units. They are already marketing MML in the price band of Rs. 160 and Rs. 205 where brand really does not matter to a particular segment of consumers.

MML Category Doing Well

As of now, reports from the ground indicate that the products launched under the MML category are doing ‘extremely well’ with product quality being good. Some of the MML players or the consultants who are guiding them come with enormous experience in the liquor industry, either having worked in major companies or having bottling plants or ethanol units. Some of them also own retail shops across Maharashtra where they can give good shelf position for their products.

The ISWAI source said that many of the players were ‘commodity players’ and not ‘brand players’ and they would flood the market having a good lead over the established companies. The source acknowledged that the MML players had drafted consultants who have had strong background in the liquor business and are helping the licensees to set up the businesses, thus giving ‘undue advantage’ to them.

In mid-2025, the Maharashtra government introduced policy changes to incentivise local investment. It brought in the MML category, to include grain-based spirits produced exclusively by local manufacturers. The tax rate for MML is 270 per cent with zero foreign investment/ownership. The government believes that this will spur the local industry.

ISWAI then filed a lawsuit against the Maharashtra government, challenging the sharp hike in excise duty on premium affordable liquor brands and also for exclusion of brands of major players such as Diageo India and Pernod Ricard India from the newly-created lower tax category of MML.

The court also asked the government lawyer why the report of the Varsha Nair Committee was not submitted earlier on MML. The report highlights certain salient points to encourage those distilleries which are closed or underutilised in Maharashtra to produce cheap liquor. The report added that this would generate additional revenue to the excise department as well as generate employment provided it is made in Maharashtra for distribution in Maharashtra. It also prescribes certain minimum shareholding pattern for owners.

Eleven Licenses Approved, Several in the Pipeline

So far, the department has approved eleven MML licenses and many more are pending. Companies, both International and nation, are keen on jumping on to this MML bandwagon to produce economy liquor priced between Rs.160 and Rs.205 for the Maharashtra consumers even while their focus is on premium brands. These companies could launch similar products in this price range with some brand extensions and so on.

The Government is represented by Advocate General Milind Sathe with government pleader Neha Bhide and additional government pleaders Shruti Vyas and GR Raghuwanshi. ISWAI is represented by senior advocate Rohan Shah and advocates Darshan Bora, Chirag Shetty, Anchal Mundada, Kanika Birje, Surabhi Prabhudesai, and Vidhi Shah.

Trilok Desai / R.Chandrakanth

Ambrosia

Section 49 in The Maharashtra Prohibition Act

Exclusive privilege of Government to import, etc., intoxicants, etc., and fees levied include rent or consideration for grant of such privilege to person concerned.

Notwithstanding anything contained in this Act, the State Government shall have the exclusive right or privilege of importing, exporting, transporting, manufacturing, bottling, selling, buying, possessing or using any intoxicant, hemp or toddy, and whenever under this Act or any licence, permit, pass, thereunder any fees are levied and collected for any licence, permit, pass, authorisation or other permission given to any person for any such purpose, such fees shall be deemed to include the rent or consideration for the grant of such right or privilege to that person by or on behalf of the State Government.

GIFT City liquor rules eased

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Any person from outside Gujarat or India can now consume liquor at designated hotels or restaurants in Gujarat International Finance Tec-City (GIFT City), a global finance centre in Gandhinagar, by showing a photo ID card, as per changes made to alcohol rules at the hub by the state government.

The Gujarat government has introduced major changes to liquor rules at GIFT City, doing away with the norm of obtaining a permit for alcohol consumption. The state home department has announced the changes through a gazette notification on December 20, further easing liquor consumption rules at GIFT City.

According to the latest notification, any “external person” who is not from Gujarat or a foreign national can now consume liquor at designated facilities at GIFT City by showing his or her valid photo ID card. This new rule discards the previous condition, wherein such “external persons” had to get temporary permits.

Gujarat is a “dry” state where the manufacture, sale, and consumption of liquor are prohibited. However, the government made an exemption for GIFT City in 2023, allowing the sale and consumption of alcohol in the central business district with some conditions.

Another change brought in by the home department pertains to the place where liquor can be served and consumed. Earlier, liquor consumption was allowed only at designated wine and dine areas of hotels or restaurants that have permission to sell liquor inside GIFT City. Now, liquor can be consumed in other areas as well, such as lawns, poolside and terraces.

As per the notification, any person coming for food is allowed to sit in the wine and dine area of a restaurant. Employees of GIFT City, who have a “Liquor Access Permit”, can host up to 25 visitors at a time at designated places, and visitors would get “temporary permits” provided that the host employee accompanies them, the notification stated.