To leverage the opportunities from the Australia-India Economic Cooperation and Trade Agreement (ECTA) and the increasing demand from the Indian consumers, a number of Australian wineries are attending ProWine Mumbai 2024 to showcase Australian premium wines and connect with Indian importers and consumers.
The Australian Trade and Investment Commission (Austrade), in partnership with Global Victoria, Investment NSW and with the support of Wine Australia are bringing together 11 Australian wineries to showcase their portfolio of wines at ProWine Mumbai 2024.
The Australian pavilion features wines from 11 Australian wineries that highlight the diversity, uniqueness, and evolution of Australian wine. Some of these wines will also be showcased in two masterclasses presented by Sommelier Nikhil Agarwal (one of which is being delivered by the South Australian Government).
Speaking about the Australian participation, John Southwell, Senior Trade and Investment Commissioner – South Asia, Australian Trade and Investment Commission said, “The spirit of cooperation between India and Australia drives our desire to work closely with Indian importers and provide Australia’s finest wines to India, promoting economic ties that further unite the two countries. This includes engaging in technical cooperation to promote the further growth of the Indian wine industry. We are excited to honour this close relationship by showcasing a variety of Australian wines at ProWine Mumbai.”
Australia has one of the most diverse wine scenes in the world. With more than 100 grape varieties grown across 65 distinctive wine regions, Australian wine is an expression of Australia’s unique climates and soils and the passionate communities that cultivate them. From sophisticated reds, to fun, fruity whites, wine to impress or something casual for the weekend, discerning Indian consumers can find a perfect match in the wines crafted by Australia’s innovative winemakers – especially when paired with the diversity of Indian cuisine.
As a global leader in the wine industry, Australia is the sixth largest producer of wine and fifth largest exporter of wine in the world, exporting approximately 60% of its total production worldwide.
The Australia-India Economic Cooperation and Trade Agreement (ECTA) entered into force on 29 December 2022. Key ECTA market access outcomes related to wine include:
A phased reduction in the 150% tariff to 50% over 9 years for bottles valued between US$5 and US$15;
A phased reduction in the 150% tariff to 25% over 9 years for bottles valued over US$15.
As India celebrated Diwali, evolving drink trends revealed a preference for fusion flavours, premium spirits, and wellness-driven options, showcasing a significant shift in festive indulgence.
Diwali, one of India’s most important annual celebrations, is a time to reflect, celebrate, and embrace the spirit of gratitude for all the good the year has brought. For the business world, especially those in the food and beverage sector, it is an ideal occasion to tally gains and analyse consumer trends, as Diwali sparks significant economic activity and provides insights into consumer behaviour as the year winds down.
With this year’s Diwali celebration, it is important to examine India’s beverage preferences during the season and how different products perform. Understanding these trends not only highlights drinking patterns, but also equips the beverage industry, particularly alcobev players, to plan effectively for future festivals.
For example, official sources reveal that liquor sales in Delhi set a new record in the two weeks leading up to Diwali, totaling 38.7 million bottles and generating ₹447.62 crore in government revenue through excise duty. This massive feat, recorded between October 15th and 30th, is largely in preparation for the festivities. Interestingly, 2.98 crore bottles out of the total are Indian Made Foreign Liquor (IMFL), alongside 89.48 lakh beer bottles.
Similarly, sales recorded between October 29 and November 1 in Uttar Pradesh are 25% higher than in 2023, generating ₹7 crore more compared to the previous Diwali season.
We caught up with some renowned players in the alcobev scene to explore what Indians drank this Diwali and how these choices reflect their evolving preferences for celebratory beverages.
Drinking pattern and preferences
What better way to showcase the success of the alcobev industry during this year’s Diwali festivities than to highlight the remarkable performance of this year’s Indri Diwali Collector’s Edition, priced at ₹15,000? With its presence in Gurugram, Haryana, the collection rises to global acclaim, earning the coveted ‘Gold Medal’ at this year’s Whiskies of the World Awards, further building on the success of last year’s edition.
Paul P. John, Chairman of John Distilleries Pvt Ltd
According to Paul P. John, Chairman of John Distilleries Pvt Ltd., the season saw Indians gravitate towards beverages that symbolise festivity and celebration while blending cultural and contemporary influences. This comes at a time when Indians are demonstrating their growing sophistication and creativity through their evolving alcobev preferences.
“We saw a marked preference for beverages that blended traditional flavours with fashionable Indian twists, such as Indian craft spirits like Malhar Gin mixed with regional sharbats like nannari and fuljar soda from Kerala, kokum from Goa, and thandai malhar from Gujarat, Uttar Pradesh, and Rajasthan. These beverages offer a refreshing and festive touch to celebrations. Consumers are increasingly exploring innovative cocktail programmes that emphasise local ingredients and unique flavour profiles,” he explains.
Rahul Sangoi, CEO & Co-founder of RIO InnoBev Pvt. Ltd
With this trend, brands are responding with festive-themed offers, which prove effective in attracting both regular and new consumers. Rahul Sangoi, CEO & Co-founder of RIO InnoBev Pvt. Ltd., agrees, noting that Indians’ preferences showcase a fusion of timeless tradition and progressive tastes.
“Indian consumers showed a strong preference for flavours that bridge tradition and modernity. Rich, indulgent essences like mango, mixed berries, guava, jeera, mojito, masala chaas, and kokum remained popular due to their cultural relevance. However, there was also a growing interest in refreshing, exotic profiles, such as tropical fruit blends like acai berries, peach, kombucha, and lemon mojito,” he enlightens.
Rajiv Thadani, Managing Director of Goa-based Fullarton Distilleries
Rajiv Thadani, Managing Director of Goa-based Fullarton Distilleries, echoes this sentiment, stressing a shift toward nuanced taste profiles. “Consumers are gravitating toward spiced and aromatic profiles, which bring warmth and depth to festive gatherings. At Fullarton Distilleries, we embraced these preferences by highlighting Pumori Gin’s subtle botanicals and Woodburns Whisky’s smokey undertones, both of which offer layered, celebratory tastes.”
“Additionally, cocktails infused with Indian spices, such as star anise, cinnamon, and cardamom, were particularly popular as they enhanced the festive feel,” he adds.
Wines also made their presence felt, adding a touch of sophistication to Diwali gatherings. Kaushal Khairnar, Winemaker at Moët Hennessy India, notes, “Indian consumers showed a preference for refreshing and versatile sparkling wines that complemented the lively, celebratory spirit of the season.”
“At Chandon, we catered to these preferences with a diverse portfolio tailored for the Indian palate. Our Chandon Brut and Chandon India Rosé, crafted with 100% Shiraz, provided a crisp and refreshing taste, ideal for India’s warm climate and festive gatherings. For those desiring a sweeter, aromatic option, Chandon Delice was a popular choice, well-suited to everyday celebrations and Diwali festivities. During the festive season, the interest in premium and craft sparkling wines was evident, as consumers sought unique, high-quality options. Chandon’s Vintage 2015, our first-ever vintage sparkling wine, drew attention as a limited, collectible release,” he says.
The cocktail rave
Properly garnished and visually appealing cocktails and mocktails are another common feature during festivities because they add colour and thrill to celebrations. This Diwali was no different. In fact, things were taken a notch higher as mixologists and bartenders sought to outdo themselves in satisfying consumers. As Hemanshu Badola, Mixologist at VietNom, says, “To capture Diwali’s festive flavours, we incorporated the essence of kaju katli combined with marigold flowers into a unique liqueur. This kaju-marigold infusion paired perfectly with any preferred spirit, a touch of citrus, and a splash of soda.”
Speaking further, he says that many Indians also opted for simple cocktail recipes that could be easily prepared at home to capture the Diwali spirit. These included the Pickleback Shot, made with a preferred spirit containing 30ml of jalapeño juice and 30ml of lime juice, and a beer-based cocktail, requiring 40ml of orange juice, 15ml of lime juice, 15ml of passion fruit syrup, and a beer top-up. Spirit-based cocktails were also popular, but for him, the absolute favourite spirit among consumers during the Diwali season was tequila.
Stanley Fernandes, Corporate Bar Manager at Kyma BKC
As for Stanley Fernandes, Corporate Bar Manager at Kyma BKC, Mumbai, he treated his customers to a fusion of Indian tradition, seasonal extravagance, and festive nostalgia. “I started with saffron; it’s not just fragrant but luxurious, lending a golden hue that captured the opulence of Diwali. I infused it into gin for a Saffron Gin Fizz, giving the cocktail a floral surprise with rose water and a splash of tonic. Saffron is one of those spices that feels both ancient and festive, and seeing it bloom in the glass creates an instant celebration vibe.
“For a playful take, I brought in chai spices – cinnamon, cardamom, and cloves – which resonate with Indian warmth. Imagine a Chai-spiced Old Fashioned, where the depth of bourbon meets cosy, familiar spice. I served it with a cinnamon stick, so every sip was aromatic and perfect for chilly evenings. And of course, mango had to make an appearance! Though not exactly in season, frozen mango pulp became the star in my Mango Tamarind Margarita,” he muses.
Of premium, craft, and low-alcoholic drinks
Many in the industry believe craft drinks are the next best thing in India’s alcobev industry. Coupled with premium batches, this category offers a distinct experience that denotes luxury and class. As John says, “There’s a clear surge in the consumption of craft spirits during festivals.”
The trend continues as consumers demand quality and a more enriching drinking experience. For Thadani, it is about “the allure of authenticity, exclusivity, and craftsmanship in the premium segment that syncs strongly with today’s consumers, who are shifting away from mass-produced options.”
With a rising consciousness around health and wellness, India is also experiencing a revolution in the beverage industry. Consumers are welcoming low-alcohol and zero-proof cocktails, especially during the festive season, says John. “It’s like they’re finding new ways to enjoy the social side of drinking without always reaching for the high-proof options. People are looking for lighter drinks that still deliver on flavour and experience, allowing them to pace themselves across long nights of celebration and be present for all the events of the season.”
“There’s also an emerging focus on wellness, and people are genuinely appreciating drinks that are lower in alcohol or totally alcohol-free, yet crafted thoughtfully with ingredients that feel festive. Think of herb-infused sodas, spiced tonics, and botanical-based mocktails; these options offer the cocktail experience without the extra kick,” he concludes.
Export value of Scotch whisky in H1 2024 was £2.1bn, down £463.2m (-18%) compared with H1 2023
Export volume of Scotch whisky in H1 2024 was 566m 70cl bottles (equivalent), down 64.3m (-10.2%) 70cl bottles compared with H1 2023
H1 2024 is the 4th highest value export total since record began.
The Scotch Whisky Association (SWA) has released new figures revealing that exports of Scotch whisky in the first half of 2024 have fallen by 18% compared to the same period in 2023.
Data for H1 2024 shows that the value of Scotch whisky exports declined when compared with the first half of 2023 – a year in which the industry saw a reduction in exports after a record breaking 2022. Export value in H1 2024 was £2.1bn, down 18% on 2023. In the same period, the volume of exports fell by 10.2%, to the equivalent of 566m 70cl bottles – or 36 bottles of Scotch whisky exported each second, compared to 40 bottles per second in the first half of 2023.
UK Government backs producers
Publishing the figures, which are collated by HMRC, the SWA called on the new UK government to take action to ‘back Scotch producers to the hilt’, as Prime Minister Keir Starmer promised to do in the run up to the General Election. This includes reducing the tax burden on Scotch whisky at the Budget on 30 October following the damaging domestic impact of the 10.1% duty increase in August last year.
By value, the United States remains the largest global market in the first half of 2024. The industry continues to feel the impact of the 25% tariff on Single Malt Scotch whisky, levied between October 2019 and March 2021, which cost the industry £600m in lost exports and market share. The industry continues to press for a full resolution of the underlying trade dispute and ensure that Scotch whisky is removed from further harm in this critical global market.
By volume, India is the largest market, with growth of 17.3% in the first half of 2024 compared with the previous year. This is despite the current 150% tariff on imports remaining in place. The SWA has called on the new UK government to redouble efforts to conclude the UK-India Free Trade Agreement. The phased reduction of the tariff would benefit industries in both the UK and India and could see the value of Scotch whisky exports grow by £1bn over five years.
Commenting on export figures in the first half of 2024, SWA Chief Executive Mark Kent said, “The Prime Minister has promised to ‘back Scotch producers to the hilt’. These figures are a reminder that the success of Scotch whisky cannot be taken for granted and requires government support to ease the industry through short term volatility.
“We are a resilient industry, exporting to over 180 markets, and are experienced in navigating such periods of turbulence, and we are confident of the long-term growth opportunities for Scotch whisky. But it is clear that the first half of 2024 has been challenging, as for other premium global exports. This has not come as a surprise given the volatile international situation affecting global industries and inflationary pressures which have fed through to consumers across global markets.
Seeks Duty Cuts by New Government
“The UK Budget on 30 October is the first opportunity for the new Labour Government to show it truly supports Scotch. Last year’s double-digit tax hike on Scotch whisky in the UK, the largest in 40 years, has already lost HM Treasury almost £300 million in tax revenue. Beginning to reverse the damage by cutting duty on Scotch whisky will boost public finances and bolster the industry through this challenging period.
“In addition, the H1 figures clearly show that our biggest market, the US, has not fully stabilised following COVID and the damage caused by the 25% tariff on Single Malt in the US. The permanent elimination of this tariff, going beyond the current five-year suspension, would remove uncertainty, give the industry increased confidence and allow our full focus to be on growing in this highly competitive spirits market.
“It is welcome that the UK government has picked up negotiations on a UK-India trade agreement. Exports to India have been a bright spot in the first half of 2024, despite the current 150% tariff being a brake on future growth. Securing a deal which reduces the tariff would be a major boost to the industry and help to mitigate the impact of a slowdown in other global markets.”
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The Indian alcobev sector has exhibited continuous growth exuding investor confidence. Liquor companies are no longer taboo when it comes to investments by the general public, resulting in a number of companies raising funds from the equity market and doing pretty well at that. Not just that, mergers and acquisitions (M&A) are adding to that growing investor sentiment.
In the recent past, the alcobev sector has witnessed some important investments, including M&A deals. One of the fastest growing craft beer manufacturers Bira 91 raised $25 million in Series D financing from existing investor Kirin Holdings, as per the Ministry of Corporate Affairs. The company has agreed to avail the external commercial borrowing (ECB) in two tranches of $12.5 million. Bira 91 has also agreed to provide Kirin Holdings with an option to convert the outstanding borrowings into Series D Compulsorily Convertible Cumulative Preference Shares (Series D CCCPS) of the company. The funding round comes a few months after Bira 91 raised $25 million from Tiger Pacific Capital in March 2024. This brings the total money the New Delhi-based company raised to $50 million in the past three months. Established in 2015 by founder and CEO Ankur Jain, Bira 91 is backed by Sequoia Capital India, Belgium-based Sofina, and Japan-headquartered Kirin Holdings.
Innovation gets funding
The trend which is quite obvious is that big players are eyeing innovative niche brands for acquisition, adding portfolio and value to their existing business. Bira 91 is one example, the other is the minority stake of United Spirits Limited (Diageo India) in Nao Spirits, the makers of India’s first London Dry gin – Greater Than – followed by the world’s first Himalayan Dry gin – Hapusa. In 2022, Diageo India with an investment of ₹31.5 crores holds 22.5% of the equity share capital of the company on a fully diluted basis. Nao Spirits had earlier raised US$ 2 million as Series A investment from a boutique VC firm, existing investors, and family offices.
The more recent follow-on investment of ₹13.15 crore comes from Tilaknagar Industries in Spaceman Spirits which is known for its Samsara gin and Sitara craft rum. In a filing to the stock exchanges, the company informed the bourses that its Board had approved the follow-on investment, thus taking Tilaknagar’s stake in Spaceman Spirits to 20.02%. Further, upon SSL achieving certain pre-agreed milestones, the definitive agreements provide an option for the company to invest or acquire further shares held by other shareholders as per a pre-determined valuation methodology.
Tilaknagar Industries, the makers of India’s highest selling brandy Mansion House, has also entered into a usership agreement wherein it will leverage its robust distribution network to sell Samsara Gin and Sitara Rum in certain states in India and abroad. Amit Dahanukar, chairman and managing director, Tilaknagar Industries, said, “The premium-end of alcobev industry in India has been witnessing phenomenal growth over the past few years. While we are already the market leaders in brandy, we will look to cherry-pick every promising opportunity to broad-base our portfolio and boost revenue growth. We feel this investment will open new avenues for profitable participation in the crafts spirit’s segment.”
In September this year, Globus Spirits, manufacturers of Gr8 Times, Rajputana etc. got a boost with Motilal Oswal Mutual Fund buying 2 lakh equity shares, representing 0.69% stake via block deal on the National Stock Exchange. Following this the stock is doing fairly well and it has got a further leg up after its announcement that it had launched DŌAAB India Craft Whisky. This new range marks the company’s foray into high-end whisky, bringing a fresh perspective to the growing segment. DOAAB India Craft Whisky, a limited-edition series, draws inspiration from the Hindi word “DOAAB”, which means the land between two rivers, reflecting the fusion of diverse influences.
Companies that got funding
Also earlier, we have had another big investment from Zerodha which acquired 13.9 lakh shares (1.04%) in Radico Khaitan, one of the oldest and largest IMFL manufacturers, known for its popular brands like Magic Moments vodka, 8PM whisky, and Rampur premium Indian single malt. Nikhil Kamath, co-founder of Zerodha, had mentioned that Zerodha held a 1.6-1.7% stake in Radico Khaitan, valued at approximately ₹400 crore. He highlighted the strong performance of Radico Khaitan as a key factor behind this investment, noting that the stake was acquired through open market transactions.
In February 2023, Integra Essentia acquired Chateau Indage Winery for $5 million in an asset transaction and in end December it acquired Brewtus Beverages for $2 million. LIC-backed penny stock, Brewtus Beverages will unlock the business potential embedded in the liquor-based beverage industry for Integra Essentia while widening the company’s footprint via stepping into the foray of medium~hard liquor-based products adding “Beer” and “Whisky” to the product portfolio, the company has said in a statement.
Angel investors and VC funding
Jimmy’s Cocktails was founded by Ankur Bhatia in September 2019 under Radiohead Brands, offering a range of cocktail mixers. Jimmy’s Cocktails had raised ₹14 crore in a bridge round ahead of its Series A, led by Roots Ventures. 7Square Ventures and several start-up founders via an AngelList led by Vishesh Khurana, Co-founder Ship Rocket and Varun Alagh, Co-founder Mama Earth also invested in this round. Existing investors Keki Mistry, Vice chairman and CEO, HDFC Ltd; Vidur Talwar, Chairman T&T Motors; Anirudh Somani, VP CLSA also participated in the round.
Early this year, Radiohead Brands concluded its pre-Series A funding round, raising an impressive ₹35 crore. Prath Ventures spearheaded the funding initiative with a substantial contribution of ₹12.2 crore, accompanied by investments from Capital Ventures, Illeyrium Ventures, and notable angel investors Neel Bahl and Sandeep Aggarwal of Droom. This funding injection comes as a follow-up to the ₹11 crore secured in July this year, further propelling Radiohead Brands on its path to becoming a key player in the industry.
Bengaluru-based alcoholic beverage brand RockClimber with crafted wine coolers, mixers, and other wine beverages is expanding its nation-wide footprint having earlier raised a pre-Series A funding round worth US$ 1 million from angel investor Anand Prakash Sharma. Another start-up Salud which offers pre-mixed drinks, has raised funds from actor and serial entrepreneur Rana Daggubati.
List of investors
There is a list of 40 angel investors and venture capitalists who invest in wine and spirits startups and they include ah! Ventures; Inflection Point Ventures; Anicut Capital; Skayle; Chakradhar Gade; Anicut Angel Fund; Prashant Pansare; Rohan Mirchandani; Mohit Shrivastava and Nitin Kaushal (Ginglani Distillers); Kirin Holdings; Soumya Kant (Bored Beverages Company); Ankit Bhati (Salud Beverages); Srini Koppulu; Abhishek Goyal; First Cheque; Prabhtej Singh Bhatia and Dotln (Bored Beverages Company); Rana Daggubati (Iron Hill India); Sprout Investments (O’be Cocktails); Chandigarh Angels Network; Sameer Guglani; Lets Venture; VerlInvest; Eagle 10 Ventures; Japan Vyas and Roj Niyogi (Hipcask); Deepinder Goyal; Rohan Mirchandani; Saama Capital; Bold Ventures; Supermorpheus; DSG Consumer Partners; Hem Angels; Kae Capital; Mohit Srivastava; Ashish Dhawan; Bhavish Agarwal; Mumbai Angels; Kunal Bahl; Bhawna Bhatnagar; and Abhijeet Pai.
Alcobev, a good bet for investors
What does these investments all indicate? That the alcobev industry, which has been among the fastest-growing industries in India, is a good bet for investors, given the ever-evolving demand for liquor and related products and the consistent performance of the companies. Though the industry is highly regulated, vastly varying from one state to another, the growing demand from consumers for premium products has encouraged the producers to further explore the markets. India is one of the largest alcohol markets in the world. Given the production scale, evergreen demand, and a vast range of products, the industry has grown consistently.
Adding zing to the market are the startups who are disrupting with their brands, nevertheless adding considerable value to the thriving liquor industry in India. The exponential growth of the homegrown premium brands – Indian Single Malts are making waves the world over – has further enthused investor confidence.
The Supreme Court bench comprising Justice Surya Kant and Justice Ujjwal Bhuyan on September 13 granted bail to Delhi Chief Minister Arvind Kejriwal in a money laundering case filed by the Central Bureau of Investigation (CBI) against him. Kejriwal was arrested on June 26 by the CBI, before his hearing commenced in the Supreme Court for bail in the Enforcement Directorate’s case against him in the liquor policy scam.
Following the conditions, Arvind Kejriwal resigned as Chief Minister, and in his place Atishi Marlena has been made the Chief Minister.
With his bail, the Aam Aadmi Party is rejoicing as earlier the apex court had given bail to the former Deputy Chief Minister, Manish Sisodia and Rajya Sabha MP and senior leader of AAP, Sanjay Singh, besides, K. Kavitha, MLC and daughter of former Chief Minister of Telangana, K. Chandrashekar Rao. The bail for these leaders, AAP says is vindication of their claim that the Centre had falsely implicated them.
Bail conditions
The two judges delivered separate judgments, but agreed that Kejriwal satisfies the triple condition for the grant of bail. The judges said that as the chargesheet had been filed in the case and that the trial is unlikely to be completed in the near future, it granted him bail with the condition that he cannot visit the office of the Chief Minister and the Delhi Secretariat. Importantly, he is not to comment on the case while on bail.
Justice Surya Kant said that there is no impediment in terms of arresting a person already in custody for the purposes of investigation, whether for the same offence or for an altogether different offence. The Appellant’s arrest by the CBI was thus entirely permissible, in light of the Trial Court’s order dated June 25, 2024. The judge said the evolution of bail jurisprudence in India underscores that the issue of bail is one of liberty, justice, public safety and burden of the public treasury, all of which insist that a developed jurisprudence of bail is integral to a socially sensitised judicial process. The judge added that Kejriwal will not make any public comment on merits of the case and that the conditions imposed in the Enforcement Directorate matter shall apply in this case also.
Justice Ujjal Bhuyan said in so far as the arrest of the appellant by the CBI is concerned, it raises more questions than it seeks to answer as for 22 months, the CBI did not arrest him but after the Special Judge grants regular bail to the appellant in the ED case, the CBI sought his custody.
“In the circumstances, a view may be taken that such an arrest by the CBI was perhaps only to frustrate the bail granted to the appellant in the ED case.” The judge added the power to arrest is one thing but the need to arrest is altogether a different thing. “Just because an investigation agency has the power to arrest, it does not necessarily mean that it should arrest such a person.”
Justice Bhuyan said that the CBI should not be perceived as making the arrest in high-handed manner and must dispel the impression that it is a ‘caged parrot’ of the Central government.
The Judge said that the CBI, being the primary investigative agency, must not give any indication that the investigation was improperly conducted. Indeed, it is imperative to make every attempt to dispel any impression that the inquiry is not conducted impartially and that the arrest was made in an arbitrary and discriminatory way.
Additionally, Justice Bhuyan said, “I have serious reservations on the conditions which bar Kejriwal from entering Secretariat or signing files, but I am not making comment due to judicial restraint as it was in a different ED case.”
Star campaigner
The Aam Aadmi Party which is celebrating Kejriwal’s return said that he will continue to oversee governance and work in Delhi “will not stop”. “Arvind Kejriwal is the chief minister of Delhi, who heads the council of ministers and oversees governance via ministers of various departments. He is fully empowered to give directions to all his ministers so that work can be done in public interest,” AAP said in a statement.
“The only files that are signed by the chief minister are those that have to be sent to the LG for which he has permission from Supreme Court. Therefore, no work of the people of Delhi will stop,” it added.
Several important policy decisions, including the flagship Mahila Samman Nidhi Yojana – a scheme to provide financial assistance of ₹1,000 to all women aged above 18 – which was announced in the Delhi budget this year; dearness allowance for daily wagers; Delhi Start-Up Policy; Dilli Bazaar Portal; Cloud Kitchen Policy; Food Truck Policy; City’s Logistics Plan; Delhi Electronic System Design, Manufacturing, and Refurbishment (ESDMR) Policy 2022-27; and Industrial and Economic Development Policy 2023–33 are ready and need approval of the cabinet which is headed by the CM.As AAP’s star campaigner, his release has come at an appropriate time for the party as it is contesting all seats in the upcoming Haryana Assembly elections.
Johnnie Walker, The Glenlivet, Indri, Bacardi, Patrón, Campari, Jameson, Kingfisher, Himalayan, and Schweppes dominate the list
71 Indian Brands Make the Top Ten List in different categories
A recent report ranks India’s ten most popular consumer brand choices across twenty different alcohol and non-alcohol categories, including Vodka, Single Malt, Gin, Beer, Rum, Aperitifs, Mixers, Water, and more. The report is based on direct responses from bar owners, head bartenders, and bar and beverage managers of 116 top bars in the country, spread across 15 cities in a dozen states. An impressive 616 brands were mentioned in this year’s survey, reflecting the diversity of India’s drinking culture.
The brands that top the survey rankings include Bombay Sapphire in the Gin Category; Grey Goose in Vodka; Jägermeister in Liqueurs; Patrón in Agave; Bacardi in Rum; Campari in Amaro/Aperitif; Hapusa in Indian Craft/Native Spirits; Indri in Indian Single Malts; Indri in Indian Premium Whiskies; Johnnie Walker in Blended Scotch/Malt; The Glenlivet in International Single Malts; Jameson in International Whisky; Hennessy in Brandy & Cognac; Sula in Indian Still Wines; Jacob’s Creek in International Still Wines; Moët & Chandon in Sparkling Wine; Kingfisher in Indian Beer; Corona in International Beer; Himalayan in Water; Schweppes in Mixers.
Mix of bars from across cities
As with the 2023 edition, ‘What India is Drinking 2024’, despite its name, is focussed on a small slice of the country’s giant liquor market – the drinking habits of Indians who frequent premium bars in the country’s biggest cities. The list of bars is drawn is a mix of independent bars, restaurant bars and hotel bars. No sales figures were asked for, and no sales figures were provided, 30BestBars said.
It further mentioned that each respondent was asked to rank their 5 top-selling brands over the past year, across important categories such as Whisky, Vodka, Gin, Wine, Beer, Rum, Wine, Mixers, Water and many others. In some of the minor categories, the respondents were asked to name their top 3 top-selling brands. The brands mentioned could be Indian or International, unless specified otherwise. A weighted average system was used to arrive at the final tally. With burgeoning interest in cocktails across the country, the survey also has listed the most sought-after cocktails in these bars. It targetted five popular spirit segments for cocktails – Gin, Vodka, Agave, Rum, and Whisky – for this exercise.
INDSPIRIT 2024 and Ambrosia Awards 2024 was held recently in Gurgaon, Haryana in front of a packed audience.
Join us at INDSPIRIT 2024 for an invigorating Keynote Address by Vijay Rekhi, the visionary Chairman & Managing Director of Vizanar Alcobev & FMCG Advisors LLP. Dive into an inspiring session titled “Empowering India: Unleashing Entrepreneurial Potential for a Brighter Tomorrow.”
In this pivotal keynote, Vijay Rekhi shares groundbreaking insights and strategies on nurturing entrepreneurship and innovation within India. Discover the keys to unlocking your potential, fostering growth, and driving meaningful change across industries. Whether you’re an aspiring entrepreneur, a seasoned business leader, or simply passionate about India’s economic future, this session is designed to spark a wave of entrepreneurial spirit across the nation.
Stay Tuned: Subscribe and hit the notification bell to get updates on all things INDSPIRIT 2024. Share your thoughts and questions in the comments below, and let’s engage in enriching discussions on the future of the alcobev industry.
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INDSPIRIT 2024 and Ambrosia Awards 2024 was held recently in Gurgaon, Haryana in front of a packed audience.
Dive into the heart of the alcobev industry with the inaugural address of INDSPIRIT 2024, delivered by Trilok Desai, the visionary Publisher & MD of Ambrosia & SAP Media Worldwide. As we celebrate the 16th edition of this iconic event, get ready to explore the dynamic shifts and growth trajectories shaping the future of alcohol beverages in India and beyond.
Don’t miss out on this comprehensive overview of today’s alcobev landscape, filled with expert analysis, future forecasts, and a celebration of industry achievements. Whether you’re a professional in the field, an enthusiast, or simply curious about the evolving world of alcoholic beverages, this video promises insights and inspirations aplenty.
Stay Tuned: Subscribe and hit the notification bell to get updates on all things INDSPIRIT 2024. Share your thoughts and questions in the comments below, and let’s engage in enriching discussions on the future of the alcobev industry. 🔗
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The 16th edition of the prestigious Ambrosia Awards 2024, organized by Ambrosia Magazine – the Wine and Spirits Magazine, celebrated the finest achievements in the Alcobev industry at a gala event. Recognizing excellence in products, packaging, and individual categories, the awards showcased the industry’s best and brightest talents.
Ambrosia magazine, now in its 32 nd year, continues to be a hallmark of excellence in the industry. With a focus on blind tastings for the product category, the awards ensure a fair and unbiased selection process, akin to top international standards.
Trilok Desai, MD and Publisher of SAP MEDIA WORLWIDE LTD, remarked, “The Ambrosia Awards stand for excellence, and our international jury ensures that only the best are honored. Each year, we witness remarkable advancements in product quality, packaging, and technology, setting global benchmarks.
Vijay Rekhi launching Cheers 3rd Edition Coffee Table Book with authors Trilok Desai & Bhavya Desai
Another highlight of the evening was the launch of the 3rd Edition of Cheers – Coffee Table Book, authored by Trilok and Bhavya Desai. The book, inaugurated by Vijay Rekhi, CMD of Vizanar Advisors, and Former President and MD of United Spirits Ltd (USL), commemorates the industry’s journey and milestones.
Shiv Kumar Reddy, MD, Seven Seas Distillery Private Limited accepting the AwardAmar Sinha, COO, Radico Khaitan accepting the AwardAbhishek Khaitan, MD, Radico Khaitan Limited acceppting the Award on behalf of Dr. Lalit KhaitanVijay Rekhi and Mr. Gandhi’s family member accepting the Award
Among the individuals recognized, Shiv Kumar Reddy, Managing Director of Seven Seas Distillery Private Limited, was awarded Entrepreneur of the Year. Amar Sinha, COO of Radico Khaitan Ltd, was named Business Leader of the Year. Dr. Lalit Khaitan, Chairman and MD of Radico Khaitan Ltd, received the Ambrosia’s Paramount Achievement Award for his outstanding contributions, achieving the status of India’s newest billionaire. The Lifetime Achievement Award (Posthumous) was presented to Mr. S.S Gandhi, Former President of United Spirits Ltd, honouring his significant impact and achievements in the industry.
This Product Jury included:
Jury Members at the Tasting Session
Bernhard Schafer – A Whisky Expert, Spirit Consulting and A Master of Quaich
Stephen Beal – Senior Master of Whisky, Chairman of The Council of Whisky Master 2024
Dr. Binod. K. Maitin (PhD) – Technical Expert & Former SVP and Head of Technical Centre USL
Eddie Nara – CSE & Spirits Expert
Ajoy Shaw – DipWSET Winemaker, Consultant and International Wine & Spirits Judge
Julie Lee – Industry Expert and Entrepreneur
This Packaging Jury included:
Jury Members at the Packaging Session
Prof. K Munshi – Industrial Design Centre, IIT Powai
Shekhar Amberkar – Asst. Director, Indian Institute of Packaging & Head of International Packaging Centre
Pratish Mepani – Founder of SMBD Group
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Taking over the reins of one of the biggest companies in the market, can never be an easy task, especially when the daunting objective is to ensure double-digit growth, drive revenue and increase profits. Add to that, the first woman to lead the business, but Hina Nagarajan, Managing Director and CEO, Diageo India has not only successfully achieved this, but also surpassed many other feats. She speaks to Bhavya Desai about her journey, future objectives and more. Excerpts:
Since you took over, you’ve made incredible strides towards ensuring that the company becomes net debt free. How have you managed that?
The task ahead of me when I took charge in 2021 was to bring our Diageo India business on a sustained double-digit growth path, especially driving revenue and profitable share in the premium and prestige segments of the Indian alcohol market. Together with my leadership team, we made some strategic choices to win in this decade and beyond.
I led the execution of our portfolio reshape with the objective of accelerating premiumisation-led growth while delivering our guidance of mid to high teens margin. We completed the strategic review of our Popular brand portfolio, resulting in the sale of 32 mass brands and franchising of 11 brands in September 2022.
Our commitment to premiumisation is evident in our investments over the past years. We’ve introduced new products and innovations such as Royal Challenge American Pride, Epitome Reserve’s second limited edition of Peated Indian Single Malt in Goa, and Godawan, a unique single malt from Rajasthan. Additionally, our minority stake in Nao Spirits, the makers of Hapusa and Greater Than, underscores our strategy to grow in the luxury and premium segments, particularly in scotch, where we lead the market.
We also redefined our offerings in the Upper Prestige segment with unique products that resonate with new consumer trends. Furthermore, our efforts to premiumise and reposition brands in the Lower & Mid Prestige segments, such as McDowell’s No.1 Whisky and Royal Challenge Whisky, are part of our strategy to respond to evolving consumer needs.
With the consumer at the heart of our business, the strength of our reshaped portfolio, and the investments we are making to accelerate our strategic priorities, we have been able to deliver our mission of profitable double-digit growth for our business and in the process, wiped out our cumulative losses and declared dividend for the first time since acquisition a decade ago.
Having set on this path, what is Diageo’s next objective – in the coming years?
We feel extremely positive and excited about the future of the alcobev industry in India. The biggest transformation that we see is a whole new generation entering adulthood driven by a different, positive, and progressive set of values. India is in the middle of deep societal change led by women, youth and boom towns. This along with a massive growing need to ‘drink better, not more’ across all segments, is in line with our vision for the category.
The premiumisation trend will continue to stay strong with rising affluence. By 2030, 45% of Indian households (approx. 175 million households) will be in the upper mid and high-income groups. We see a big opportunity, not only to leverage this trend through our incredible portfolio of global and IMFL brands, but also to position Indian whisky as a characterful, distinct, high-quality offering by bringing the best of people, processes, and ingredients together to create bespoke liquids that are ‘Made in India’ for the world.
Our mission is to be a top CPG (Consumer Packaged Goods) company in India delivering sustained double digit topline growth with mid to high teen margins and long-term value to all our stakeholders. With this new strategy, we aim to deliver our Mission through 3 pillars that form the essence of our mission:
Reshaping our portfolio with a focus on accelerating premiumisation-led growth, while delivering our guidance of mid to high teens margins.
Creating an Organisation of the Future – We are building a future-ready organisation by investing in our talent, introducing market-leading policies and driving digital capabilities.
Defining and executing an ambitious role for Diageo in Society 2030 focusing on promoting responsible consumption, championing inclusion & diversity, and pioneering grain-to-glass sustainability which includes preserving water for life, accelerating to a low-carbon world and lastly, becoming sustainable by nature.
Keeping our customers as our main focus, along with the reshaped portfolio of our products and the investments we’re making to accelatate our strategic goals forward, we are confident of growing our business in a steady and sustainable way.
How has the consumer landscape changed over the years in the industry?
India is in the middle of deep societal change led by rising affluence, women, youth and boom towns. The biggest transformation that we see is a whole new generation entering adulthood driven by a different, positive, and progressive set of values. This trend expands to middle India and boom towns which are undergoing a remarkable transformation, fuelled by high aspirations and digital revolution where consumers are looking for premium brands, products, and experiences. The new consumer cohorts are driven by values of authenticity, individuality, local pride and collaboration with women building a more inclusive consumption narrative.
Digital has also been a big game changer. Most consumer journeys begin on digital with discovery, information, inspiration – informing them of their choices and behaviour and most of all aspiration and desire for what they want. If we look at the alcobev category, consumers are choosing different products for different occasions and need.
This means that repertoires are expanding from whisky to gin, vodka, rum, aperitifs, cocktails, etc. Consumers today choose to drink better, not more, leading to premiumisation of the alcobev category. At Diageo , we are responding to these structural shifts in consumer choices and behaviour, pivoted around premiumisation, wellbeing and sustainability. This new, changing, and vibrant India presents a huge opportunity for us.
You are the first woman to lead the business at the company. How do you think this encourages and inspires others across industries?
My appointment sparked interest and garnered positive attention, which reflects the breaking of traditional barriers especially in the alcohol beverage sector. As a woman CEO in alcobev, traditionally a male dominated industry, I see this as an opportunity to change the paradigm of this industry to make it more inclusive and normalise the narrative.
Our efforts are making a difference, leading to an environment where joining our sector feels no different from any other industry for women. At Diageo India, our commitment lies in building a workplace where everyone feels included. 50% of our Executive Committee and 35% of our senior leadership team comprises of women. We believe that a diverse leadership helps create a more balanced and well represented workforce. We’re making this happen by welcoming women into various leadership positions, ensuring we drive change right from the top.
Seeing more women in our company is truly encouraging. Their presence brings fresh ideas and perspectives on how we approach our products, market them, and innovate. This enriches our connection with customers and broadens our talent base, helping us to stand out and succeed in a competitive market. And hopefully, this encourages and inspires others to do more.
With sustainability being a rising factor amongst consumers today, how is Diageo moving towards a more sustainable tomorrow?
We at Diageo strongly believe that social and environmental impact and profitability are not two separate goals but rather interlinked. As one of the world’s largest beverage alcohol producers, we believe that we are ambassadors of our industry and aim to be the best we can – at work, at home, with friends, and in the communities we serve.
Sustainability is at the heart of our business strategy and is outlined in our Society 2030: Spirit of Progress ESG action plan. Our Society 2030 agenda is focussed on pioneering grain-to-glass sustainability, championing inclusion and diversity, and promoting responsible consumption.
Pioneering grain-to-glass sustainability plays a pivotal role in our Society 2030 goals and is embedded throughout the process and focusses on three key aspects; preserving water, lowering carbon emissions, and becoming sustainable by design.
In terms of preserving water we have overachieved our water replenishment target by 25% and three years ahead of our 2026 goals. We have improved our water use efficiency by 44% in our distilleries and 30% in our packaging processes, against the 2030 goal of 40%.
Women and girls are disproportionately affected when communities don’t have access to clean Water, Sanitation and Hygiene (WASH) facilities. We’re investing in such projects to empower women by providing sustainable water access and rebalancing their societal roles in more than 30 villages.
At the state level, we have partnered with Forest Department in Rajasthan and Maharashtra for mass plantation projects to improve green cover, protect soil, improve percolation and support biodiversity. In Alwar we have initiated efforts for desilting ponds, constructing check dams, improving drainage systems, to name a few. Measures like maintaining Zero Liquid Discharge status, rainwater harvesting pits, and others were adopted. We have also launched an afforestation drive to plant 2 lakh trees to offset residual greenhouse gas emissions.
We are making good progress in reducing our carbon emissions, and have committed to becoming Net Zero by F26 in our direct operations by mitigating our Scope 1 & 2 emissions and reduce 50% of our Scope 3 emissions by 2030. Our sustained efforts have resulted in industry-recognitions by Sustainalytics recognising the company as a “Top-Rated ESG Performer for 2022 and 2023” and our Alwar unit in Rajasthan,
has achieved the Alliance for Water Stewardship (AWS) certification, making it the first distillery in Asia to attain this certification.
In our efforts to becoming sustainable by design, we have removed mono cartons from 90% of our portfolio. In addition, we have introduced biodegradable packs as well as recyclable PETs in some of our brands and continue to expand it to others. This is aligned to our global mission to ensure 100% of our packaging is widely recyclable or reusable/compostable by 2030. Over 99% of materials used are recyclable. On glass, we have initiated light weighting of our bottles.
Our brands like ‘Signature by Nature’ uses 40% recycled glass for the glass bottle and is associated with Mangrove Plantation in Puri, Orissa where 30,000 Mangroves seedlings are being planted in five villages. These mangroves can sequester carbon up to 2-4 times faster than a mature tropical forest.
Our ESG agenda is owned by senior leadership levels including the board, which monitors the same through a CSR and ESG Committee. The ESG Index report we release annually highlights our progress mapped against each of the three pillars and we have witnessed remarkable achievements.
Our ambition is to be the forerunner in the Indian Consumer Product Goods (CPG) industry on ESG and create enterprise value.
What is Diageo’s roadmap for India with most companies betting big on the Indian markets? What is the next big product category that Diageo is focussing on for the coming years?
Diageo India is responding to structural shifts in consumer choices and behaviour, pivoted around growing affluence, premiumisation across categories, and quest for experiential and experimentation, through its refreshed business strategy focussed on premiumisation and focus on transformational innovation and renovation. We have a future back approach to our innovation pipeline and use a proprietory framework called Foresightto determine where trends will go few years from now.
It is for this reason that we have launched Royal Challenge American Pride which caters to the growing consumer preference for bourbon, renovated Signature to be the most sustainable brand in its segment , developed the Naya Sher campaign encouraging youth to take bold , confident steps forward for our Royal Challenge packaged drinking water as well as launched Walkers & Co – a platform to celebrate bold boundary pushers. We launched Don Julio tequila in the country in response to the growing traction for Tequila consumption in the country. We are also scaling up Baileys given the affinity for desserts in India.
We will continue to use Foresight to guide us on innovations for the future and bring the best of both our global, as well as Made in India portfolio, to cater to the evolving needs of Indian consumers.
While your association ISWAI has been representing centre and states for rationalisation of taxes including GST/Excise etc., do you expect centre to bring reform in the alcobev sector? How do you think this move will be beneficial?
ISWAI has been in talks with State Governments to rationalise high excise duties. It has made representations to the authorities time and again as manufacturers of alcohol beverages (Alco-Bev) continue to face shrinking margins due to high taxes, along with soaring inflation and import tariffs. The biggest barrier faced by the industry is freedom to price its brands. ISWAI continues to advocate for pricing freedom, especially for premium brands, as this will help the industry to overcome inflationary pressures. There are also several other regulatory and operational barriers which hamper ease of doing business for the industry. We have seen positive steps from the government on resolving some of these issues. ISWAI will continue to work proactively with various government bodies on these matters and is hopeful that the state governments will consider a harmonised tax structure as well as an acceptable annual pricing mechanism for the sector and continue to support ease of doing business for our industry.
