Seagram’s Xclamat!on unites whisky, gin, vodka, rum, and brandy under one name, responding to a generation that values flexibility, quality, and continuity across occasions.
India’s premium spirits market has been changing in ways that are subtle yet consequential. The shift is visible less in headline numbers and more in how people drink. Younger urban consumers are increasingly comfortable moving across categories, assembling their preferences around setting, company, and mood. A whisky-led evening may give way to gin another night, vodka on a different occasion, with brand trust travelling across those choices. Pernod Ricard India’s introduction of Seagram’s Xclamat!on sits squarely within this behavioural turn.
Launched as a single brand spanning whisky, vodka, gin, rum, and brandy, Xclamat!on reflects an attempt to respond to how consumption now unfolds in practice. The idea grew out of sustained engagement with drinkers in the 26–35 age bracket, a segment that shows high openness to experimentation alongside a growing insistence on quality. Jean Touboul, CEO of Pernod Ricard India, has observed that this cohort seeks “choice beyond whisky, with drinking acting as an expression of personality.” That insight pointed to a wide, under-addressed space: aspirational, price-aware, and underserved by structures that traditionally separated spirits into rigid compartments.
Xclamat!on has been positioned within this space with restraint. A uniform price architecture across five spirits introduces clarity, while distinct liquid identities preserve individuality. The brand does not require consumers to recalibrate expectations when shifting categories. It reflects repertoire-led drinking as an established behaviour.
A Unified Label for a Plural Consumer
For a company with a long history of category-specific branding, bringing five spirits under one label marks a notable shift. Xclamat!on is Pernod Ricard India’s first unified brand, conceived in response to consumption habits that privilege flexibility and situational choice. Internal research highlighted higher discretionary spend, increased at-home occasions, and a clear movement beyond whisky-centric consumption.
Jean has spoken of consumers expressing the need for “one reliable name that delivers quality and diversity across categories.” The liquids themselves are varied in composition and reference. The whisky combines Speyside Scotch malts matured in dual casks with Indian grain spirits. Vodka is produced from Indian grain and filtered using Russian moonstone technology. Gin brings together juniper berries sourced from Germany with Indian botanicals, resulting in seven expressions. Brandy draws on Indian and French grapes aged in Limousin wood, while rum blends Indian jaggery spirit with aged Jamaican rum, distilled using multi-column copper stills.
What holds these expressions together is not sameness but coherence. Jean has described Xclamat!on as offering “distinct taste and positioning within a single brand framework,” reflecting the way contemporary drinkers assemble their choices across different moments rather than committing to a single narrative.
Local Production, Global Reference
Xclamat!on has been produced in India, with local teams closely involved in formulation and execution. The range aligns with the Atmanirbhar Bharat vision. The emphasis remains on relevance and suitability for domestic preferences, supported by international reference points.
As Jean has noted, the brand has been “developed locally for India’s growing base of aspirational and quality-conscious consumers.” Global inputs appear throughout the portfolio as supporting elements. The approach focuses on alignment with domestic palates and social settings.
Packaging choices reinforce this outlook. Glow-in-the-dark labels, aluminium snap lids, and a bold visual language establish shelf presence, while the absence of mono-cartons reflects Pernod Ricard India’s sustainability-by-design approach. The bottles arrive unboxed, reducing material use while maintaining premium cues.
Expansion in a Complex Operating Climate
Xclamat!on’s rollout begins across Haryana, Uttar Pradesh, Goa, Rajasthan, and Daman, with plans to extend to fourteen markets within the first year. The phased approach suggests calibration rather than haste, allowing the brand to settle into distribution networks before wider availability. This pacing aligns with Pernod Ricard India’s broader growth outlook, where innovation occupies a central role.
India remains Pernod Ricard’s second-largest market globally by value and its largest by volume. Jean has indicated that innovation is expected to contribute around a quarter of the company’s growth over the next decade, with Xclamat!on projected to play a meaningful role in that trajectory.
At the same time, the operating environment remains demanding. Recent reporting has drawn attention to supply interruptions and regulatory constraints affecting retail presence in major metros, including New Delhi. These factors shape cash cycles, market access, and the sequencing of new launches, requiring companies to balance ambition with operational discipline.
Within this context, Xclamat!on reads as a long-horizon commitment. It enters the market with an awareness of governance expectations, compliance frameworks, and the realities of scaling in a fragmented regulatory landscape. Jean has spoken of India as a springboard for global innovation, a market whose scale and consumer maturity justify sustained investment. That confidence rests on the belief that premiumisation in India will continue to be driven by informed choice and responsible expansion.
Indri Single Malt Indian Whisky has expanded its City Series with a new limited-edition expression crafted exclusively for Ospree Duty Free – Mumbai: The Hand-Selected Red Wine Cask. With this release, Indri continues to redefine how India’s cultural stories—its cities, its people, its spirit—can be captured through world-class single malt craftsmanship. Each bottle is a tribute to the soul of its city, shaped by distinctive character, complexity and emotion. Available exclusively through travel retail, this edition offers global travelers a unique expression created solely for Mumbai Duty Free. It is priced at USD120.
Indri City Series – Duty Free, Mumbai:
This Red Wine Cask single malt, bottled at 48% ABV, reflects the city’s unforgettable vibrancy. From the ocean breeze along Marine Drive to the golden silhouette of the Gateway of India, this edition channels Mumbai’s cinematic charm and unstoppable energy. Intricate artwork inspired by the city’s iconic landmarks complements a whisky rich in depth, texture, and fruity opulence—an immersive sensory ode to a city that never slows down and never stops dreaming.
Madhu Kanna, Head – International Business, Piccadily Distilleries, said, “With Indri City Series, we are not just crafting limited-edition whiskies—we are bottling the heartbeat of India’s most iconic cities. The new duty-free exclusive for Mumbai reflects our ambition to take Indian single malt to new creative and cultural heights. Each expression is a story, a memory, a moment of the city itself. We’re proud to continue leading India’s whisky renaissance with innovation rooted in authenticity and world-class craftsmanship.”
Tasting Notes
Nose: Mixed sweet fruit jam with raspberry highlights, tropical pineapple, floral notes, caramel, chocolate, and delicate toffee. Palate: Full-bodied and expressive, with candied sweetness, Christmas cake richness, dried fruits, fig, and gently warming spice. Balanced oak and vanilla add structure. Finish: Smooth, bold, and lingering with layered complexity.
Pernod Ricard India unveiled Seagram’s Xclamat!on at an exclusive launch event held at The Oberoi, Gurugram, introducing a striking new portfolio that unites five premium spirits—whisky, vodka, gin, brandy, and rum—under one identity. Designed and crafted in India, the range reflects the company’s ambition to meet the tastes of a new generation of drinkers seeking quality and variety. With its bold design and accessible price point, Xclamat!on signals Pernod Ricard India’s next growth chapter in the premium admix space and is expected to drive a tenth of the company’s expansion over the next decade.
At the launch event, Jean Touboul, CEO of Pernod Ricard India, described Xclamat!on as “boldness, innovation, and celebration in a bottle,” adding that the brand brings together five spirits under one label for the first time in the company’s portfolio. His words captured the intent behind the creation; an Indian-made collection with international finesse and character.
The collection highlights a blend of local craft and global expertise: whisky made with Speyside malts matured in dual casks, brandy created from Indian and French grapes aged in Limousin wood, and rum infused with the richness of jaggery and aged Jamaican spirit. The vodka draws purity from Indian grain, filtered with Russian moonstone technology, while the gin brings together German juniper and Indian botanicals in seven distinct expressions.
Even the design language of Xclamat!on mirrors its spirit: vivid, expressive, and confident. Glow-in-the-dark labels and aluminum snap lids redefine shelf presence while reducing packaging waste, aligning with Pernod Ricard’s sustainability goals. The rollout begins across Haryana, Uttar Pradesh, Goa, Rajasthan, and Daman, eventually covering 14 markets in the first year. With this launch, Pernod Ricard India strengthens its commitment to innovation, homegrown excellence, and a future-forward drinking culture.
Launch marks entry into whisky for India’s largest brandy producer
Seven Islands is an Indo-Scottish 100% Pure Malt Whisky, made with four distinct single malts
Tilaknagar Industries Ltd. (TI) has recently enterd into the premium whisky category with the launch of Seven Islands Pure Malt Whisky. Crafted from select Indian and Scottish malts, it is a distinct 100% pure malt expression.
The launch marks a significant strategic expansion for TI, best known for building India’s brandy market with icons like Mansion House and more recently, Monarch Legacy Edition, and comes on the heels of its announcement of the acquisition of Imperial Blue, the world’s third largest-selling whisky brand. With this, the 90-year-old company establishes whisky as its second major growth pillar alongside its long-standing leadership in brandy.
“India’s whisky story is evolving faster than ever, with growing consumer demand for premium and luxury expressions. Seven Islands marks TI’s entry into this dynamic category, bringing together Indian craftsmanship and global expertise to create a whisky that is both distinctly Indian and globally competitive. With whisky commanding over 60% of India’s spirits market, expanding into this category was the next natural step for us,” said Amit Dahanukar, Chairman and Managing Director, Tilaknagar Industries.
A New Style of Whisky
Seven Islands introduces a style that moves beyond the single-malt focus that has shaped recent conversations around Indian whisky. As a pure malt, it blends four single malts—two from India and two from Scotland, allowing it to draw unique characteristics from multiple distilleries, regions and maturation styles.
The Indian malts are sourced from the Himalayan foothills and the Vindhyan ranges, bringing the influence of high-altitude and tropical ageing. These are paired with malts from Speyside and the Lowlands, two of Scotland’s most recognised whisky regions. This Indo-Scottish duality creates a profile not possible through a single-region malt. With single malts driving recent premium growth, Seven Islands offers a new direction: a pure malt style shaped by two climates, two traditions, and a more complex blending philosophy.
A Tribute to Mumbai’s Seven Islands
Seven Islands takes its name from the archipelago of seven islands that once formed the city of Mumbai—the long-time home of Tilaknagar Industries and the backdrop to much of its growth. This connection is built into the bottle design. Two converging lines create the V-cut neck, hinting at the Indian and Scottish malts coming together, while fine cartographic lines reference the contours of the original islands. At the centre sits an anchor motif, a nod to Mumbai’s maritime heritage. The palette of sage, cream and gold keeps the design crisp, contemporary and quietly premium.
“Seven Islands reflects our vision for House of TI, our new vertical which includes our premium portfolio and investments arm. House of TI was created to shape our premium and craft-led portfolio, beginning with Monarch Legacy Edition. With Seven Islands, we wanted to bring a new perspective and style to Indian whisky. It felt like the right way to introduce something distinctive, and a meaningful step forward for us as we expand into the whisky category,” said Sanaya Dahanukar, Marketing Manager, Tilaknagar Industries.
The Whisky Opportunity in India
Whisky remains India’s most loved and aspirational spirits category, accounting for about 66% of total consumption in 2024 according to IWSR. By volume, Indian whisky grew 7% year-on-year in H1 2025, crossing 130 million cases and showing continued premiumisation. Exports are expanding as well, signalling rising global interest in Indian-made whiskies and premium expressions. For TI, a company that has built scale and expertise through long-standing leadership in brandy, the opportunity in whisky presents a clear and timely growth avenue.
Tasting notes:
Colour: Natural, brilliant, golden yellow.
Aroma: Smooth and inviting, with tropical fruits, dried nuts, and hints of French and American oak layered with Indian spice.
Taste: Full-bodied and balanced, with sweet, dried fruits, soft spice, creamy texture, and a touch of smoke.
Finish: Long, smooth, and warm, with lingering notes of oak, spice, and dried fruits.
Globus Spirits has launched DŌAAB Expression 02: The Old Man & The Blossom is a limited release Indian Single Malt whisky. Crafted at the India Craft Spirits Co. distillery in Behror, Rajasthan, it is made from sustainably sourced Indian six-row barley and matured in Mizunara oak casks from Hokkaido, Japan, a fusion between Indian distilling mastery and Japan’s revered cask-making tradition.
This is an industry first – Indian Single Malt Whisky matured in the legendary Japanese Mizunara Oak Cask limited to only 500 casks.
Shekhar Swarup, Joint Managing Director, Globus Spirits Ltd., said, “With DŌAAB Expression 02, we continue to explore the art of storytelling through whisky. This expression represents a dialogue between two cultures, India and Japan, and between two philosophies, heritage and innovation. Each bottle is a meditation on time, patience, and craftsmanship, brought together by our belief that great spirits are born when tradition meets curiosity.”
P.S. Gill, CEO, Consumer Division, Globus Spirits Ltd., added, “India’s single malt category is growing in double digits, driven by evolving tastes and an increasing sense of pride among consumers. With DŌAAB, our vision is to redefine what an Indian single malt can stand for, globally relevant, deeply authentic, and unmistakably crafted.”
DŌAAB Expression 02: The Old Man & The Blossom debuted in Gurugram priced at ₹3500 – ₹3800 and will soon be available in premium outlets in select markets across India. On the nose it offers delicate fresh florals layered with the warmth of vanilla. The palate is smooth with a velvety mouthfeel with a long and elegant finish.
What began as a family experiment in Dahanu has grown into one of India’s most distinctive houses of whisky. South Seas Distilleries now brings the same discipline of craft to Crazy Cock and Six Brothers Mahura; spirits built on legacy and made for the present.
The story of South Seas Distilleries and its modern incarnation, Six Brothers Mahura, unfolds across a century. It begins in 1922, when six Parsi brothers—Khurshedji, Faramroze, Rustomji, Kuvarji, Nanabhoy, and Jehangirji—turned their gaze inward, towards the soil of India itself. While the colonial elite toasted imported blends, the brothers sought a flavour born of Indian wilderness; a flower that had perfumed tribal celebrations for centuries. They found it in the mahua blossom.
That pursuit gave rise to what would become India’s earliest recorded distillery for luxury indigenous spirits. The brothers captured the mahua’s delicate nectar and distilled it through copper stills that gleamed under Dahanu’s coastal sun. The result carried fragrance both earthy and floral; a creation that drew admiration from princely patrons and curious palates alike. The Maharajas of Jawhar and Akkalkot tasted it and declared it remarkable. For a moment, the native bloom found a seat beside the imported malt.
Then history intervened. Prohibition arrived like a curtain drawn mid-performance. Stills cooled, cellars emptied, and the brothers’ labour faded into legend. The mahua returned to forest soil. Its spirit—literal and symbolic—fell silent.
Decades passed. Generations scattered. Yet memory survived, fragile but persistent, within a few stories whispered through the family. One man, Jehangirji Behramji Kohinoor, refused to let it vanish entirely. In 1984, at seventy-three, he decided that the distilling heritage of his kin must live again. He chose Dahanu as his ground of renewal, a coastal expanse between the Arabian Sea and the Sahyadris. There he founded South Seas Distilleries, restoring copper stills to flame.
What emerged was less a reconstruction than a resurrection. Against skepticism, Jehangirji installed India’s largest copper pot stills and built the country’s biggest privately owned maturation warehouse. Critics doubted whether whisky could mature in tropical heat without losing itself to evaporation. Yet the barrels filled, and time performed its silent alchemy. The whisky matured with unexpected complexity; touched by sea breeze, sunlight, and the patient rhythm of Indian weather.
Rupi Chinoy, Director of South Seas Distilleries
Years turned into decades. The distillery grew under the stewardship of successive generations, guided by principles that favoured patience over haste, restraint over spectacle. The Chinoy family, descendants and present custodians, continued the founder’s path. This chronicle was told to us by Hamavand Chinoy and Rupi Chinoy, Directors of South Seas Distilleries, who now guard the lineage.
A Legacy Reignited
Their ethos stands on simple conviction: excellence matures through time, not acceleration. The copper stills, massive and burnished, are treated as instruments of character, not machines of speed.
From this philosophy came the company’s first consumer brand, Crazy Cock Single Malt Whisky, in 2023. Its two expressions—Rare, the unpeated variant, and Dhua, the peated—form an eloquent dialogue between subtlety and smoke. The name itself holds meaning layered with sentiment. “Crazy” pays tribute to the founder’s audacity, his unflinching pursuit of perfection, and the years of waiting that turned conviction into spirit. “Cock” was chosen as the mascot because the rooster’s call heralds a new dawn; a poetic emblem for South Seas’ renewal and the awakening of Indian single malts on the global stage.
Rare matures in bourbon and sherry oak casks within India’s largest copper stills, offering aromas of honey, pear, chocolate, raisin, cinnamon, and vanilla. Dhua, its lightly peated sibling, draws from first-fill bourbon and sherry casks, revealing dark chocolate, mandarin, oak, and a trace of smoke. Both carry a deep amber colour and a silken finish, reflecting the tropical maturation unique to Dahanu’s climate.
The Flower Returns
A year later, in April 2024, South Seas introduced Six Brothers Mahura, a spirit born again a century after its first creation. The release was hailed as India’s most exclusive small-batch heritage spirit, limited to 102 bottles priced at ₹1,02,000.
It honours the pioneers whose names crown its label. The blossom once regarded as rustic gained new finesse through double distillation and platinum filtration. In the glass, the spirit reveals warmth balanced with clarity; aromas of figs, raisins, dried hay, ginger, pepper, and apricot. Its taste unfolds in layers: a hint of salinity, traces of fruit, and a whisper of spice that lingers. Its adaptability has made it a favourite among mixologists and connoisseurs alike. Bandra Born in Mumbai has even launched the world’s first dedicated Mahura bar, serving cocktails built entirely around Six Brothers expressions that have become signature draws for the city’s patrons.
Each bottle carries symbols that narrate its ancestry. Six pairs of engraved eyes form a circle at the base; sentinels representing the brothers who began it all. A single all-seeing eye crowns the closure, signifying their shared vision. The tiger that marks the label is not decoration but emblem; a creature drawn from the forests where the mahua blooms, embodying endurance, confidence, and native strength.
To walk through the distillery today is to witness tradition entwined with invention. Rows of casks stand in patient formation, their staves breathing with moisture and craft. Workers test temperature by feel, marking variations in chalk upon wood.
South Seas Distilleries, once a local venture reborn from family lore, now stands among India’s most respected producers of malt and indigenous spirits. Yet the company remains resolutely private in tone, disinterested in corporate spectacle. Its focus lies in substance, a discipline that traces its roots back to 1922, when six brothers dared to dream of distilling the Indian earth itself.
When Hamavand and Rupi speak of the distillery, they describe not a company but an inheritance that breathes. The copper stills remain burnished and loyal. The casks sleep in Dahanu’s humidity, surrendering what they must, preserving what they can. In their aroma lies the persistence of memory; the same fragrance that once enchanted princes, now refined for a global connoisseur.
Three whiskies—GianChand, Adambaraa, and Manshaa—trace the brand’s gradual climb from heritage to international acclaim.
Indian single malts have entered a stronger phase. Once the outsiders of the whisky world, they now find recognition among collectors and bartenders alike. Across India, distillers are treating whisky-making as both science and art; experimenting, observing, and letting the climate define their spirits’ tone and temperament.
That same focus filled the evening at The Quorum, Gurgaon, where DeVANS Modern Breweries Ltd. hosted an immersive tasting session for a select audience. The spotlight was on GianChand, the brand’s single malt range, introduced in three distinct variants: GianChand, Adambaraa, and Manshaa. Each bottle told a different story, tied by a common pursuit of integrity and finesse.
Later, I interacted with Prem Dewan, Chairman and Managing Director of DeVANS Modern Breweries Ltd., who outlined the brand’s journey and the meticulous ethos behind its whiskies.
A heritage that progressed with time
DeVANS’ step into the single malt category came from decades of hands-on expertise, not impulse. “For more than thirty years, we supplied matured and fresh malt spirits to various companies across India,” Prem Dewan said. “The quality of our matured stocks was exceptional. Eventually, we decided to bottle them ourselves rather than sell them away. That decision led to the birth of GianChand.”
The name, he explained, carried both sentiment and symbolism. “We wanted an identity that reflected Indian origins,” he said. “Our founder, Shri Gian Chand, had begun as a journalist before entering the liquor business in the 1940s. He built DeVANS on ethics, precision, and quality; values we continue to uphold. The single malt honours that legacy.”
Three whiskies, one intention
At the tasting, guests sampled the three expressions sequentially, noting how each carried a separate flavour identity. “GianChand has a gentle peat layer and matures for around four years,” Prem Dewan explained. “Adambaraa and Manshaa age for over seven. Adambaraa is unpeated, while Manshaa introduces peat for the first time in our lineup.”
All are matured in once-used American bourbon barrels. “We work with first-fill casks because they provide richness and subtle sweetness,” he added. “They lend character without overpowering the malt.”
Adambaraa delivers notes of barley, caramel, and dried fruit; Manshaa introduces restrained smoke with malt sweetness and earthy undertones. The original GianChand balances spice and soft oak. “Our whiskies carry a texture people instantly recognise,” Prem Dewan mentioned. “It’s refined and coherent across the collection.”
Technique moulded by terrain
Prem Dewan described DeVANS’ process as faithful to traditional whisky-making yet flexible to Indian realities. “The fundamentals remain constant: fermentation, distillation, maturation,” he said. “We allow natural fermentation, letting yeast perform at its own rhythm. Distillation is where innovation thrives. That’s where we influence the spirit without losing authenticity.”
The company’s custom-built copper pot stills help preserve uniformity and definition. Jammu’s natural environment does the rest. “Summers are warm, winters are crisp, and both have strong day–night contrasts,” he explained. “This variation promotes ideal interaction between wood and spirit. Our water source, pure and mineral-rich, adds clarity to the whisky.”
India’s temperature accelerates maturation, but Jammu’s geography adds poise. “One year of ageing here equals several elsewhere,” Prem Dewan said. “Yet it happens with balance, not haste. The outcome is layered complexity rather than intensity.”
Recognition and practice
Acknowledgement soon followed. DeVANS’ single malts have earned international distinction, reinforcing the quiet discipline behind their creation. Adambaraa won Best Indian Single Malt at the IWC 2025 in Las Vegas, while Manshaa received International Whisky of the Year at ISW 2025 in Germany.
“Such honours affirm years of disciplined work and a clear production philosophy,” Dewan said. Yet he quickly grounded the discussion. “Awards matter,” he said, “but maintaining quality is our real goal. We have detailed systems and trained teams ensuring each batch meets our benchmark. The bottles reflect a process we never compromise.”
From Jammu to the wider world
DeVANS’ legacy in brewing continues to influence its approach to whisky. “Brewing taught us control and hygiene,” Dewan said. “Those same principles guide our distilling operations. Precision ensures consistency, and consistency builds trust.”
Exports have expanded steadily. “We’re now present in the United States and Australia,” he said. “Canada and several other markets are in line. The response has been remarkable. International buyers appreciate our structure and purity, while Indian consumers feel pride seeing homegrown malts performing globally.”
Looking forward
Before we concluded, I asked Dewan about upcoming releases. He offered a glimpse without revealing too much. “Our production units are actively developing new ideas,” he said. “Fresh expressions and limited editions are in progress. Once ready, they’ll extend the GianChand narrative. Innovation is ongoing; it’s a part of our DNA.”
As the evening drew to a close, one thing was evident: Indian whisky no longer seeks validation. It has earned its standing through intent, technical precision, and an unwavering commitment to progress. GianChand represents that maturity; an Indian malt that speaks clearly, without excess, and leaves an impression built on substance.
Set to boost excise revenues, even while the government promotes local production
MML licensees assure that quality will be prioritized and will compete with mass market IMFL
Margins will be tight, and success depends on efficient distribution, strong marketing, and retailer participation.
The Maharashtra government’s decision to introduce a new category of liquor, Maharashtra Made Liquor (MML), is set to transform the state’s alcoholic beverage landscape while increasing excise revenues. Industry experts say the move represents both fiscal foresight and a push to empower local manufacturers.
The Maharashtra liquor market is no stranger to innovation, regulation, and disruption. The MML policy is seen as a strategic attempt to bridge the gap between low-end IMFL and country liquor.
The rationale was straightforward: while premium IMFL and imported spirits dominate the higher price points, many local manufacturers were either dormant or underutilized. The government saw an opportunity to revive these units, create employment, and increase excise revenues. The MML category, pegged at ₹148.50 to ₹205 for a 180 ml pack, was positioned as a bridge offering, designed to be more affordable than IMFL yet higher in quality than country liquor.
Beyond the price, the policy introduced a nuanced excise structure. While IMFL attracts 450% duty on manufacturing cost, MML would be taxed at 270%, providing a margin buffer for manufacturers and retailers. At the time of announcement, government officials projected an incremental revenue target of ₹14,000 crore, on top of the existing ₹25,000 crore excise intake. However, industry insiders remain cautious about whether these numbers are achievable, citing consumer behaviour, market fragmentation, and distribution challenges.
MML is going to redistribute market-share: Sadanand Bapat
According to Sadanand Bapat, Managing Director of Associated Blenders Pvt. Ltd., the new policy is a strategic reform that aligns revenue generation with industrial growth. “The government will definitely benefit with increased revenues, there are no two opinions on that,” said Bapat. “Even if MML doesn’t perform fully as expected, collections will still be higher than before. The estimated additional revenue is around ₹3,000 crore over and above existing excise collections.” Maharashtra’s excise revenue was ₹25,468 crores from April 2024 to March 2025.
Sadanand Bapat, Managing Director of Associated Blenders Pvt. Ltd.
Maharashtra’s IMFL market currently stands at around 30 lakh cases per month. Bapat estimates that once all MML producers become operational, the new segment could account for 8–10 lakh cases monthly, effectively redistributing a share of the existing market rather than creating an entirely new one.
“It’s not an additional market, it’s a redistribution,” he explained. “Out of the total 30 lakh cases, about 8–10 lakh will now fall under MML, and 20–22 lakh under IMFL. Naturally, some IMFL players are worried, but this policy also opens up opportunities for local manufacturers to compete and grow.”
Initially, about 15 licensees are expected to enter the MML space, though the industry anticipates that only five or six major players will eventually dominate. The market, experts believe, could stabilise once consumer acceptance grows.
Grain-based liquor
The MML category, notified under the state’s amended excise regime in June 2025, introduces a grain-based liquor segment that can only be produced by Maharashtra-based manufacturers. Each MML brand must be registered locally, and units must have at least 25% shareholding by state residents. The aim, officials say, is to revive underutilised potable liquor license (PLL) units, encourage local production, and create employment.
Under the new structure, MML will be treated as a distinct type of Indian Made Foreign Liquor (IMFL), but with a crucial difference. It must use rectified spirit produced within the state and will carry a lower excise burden.
As per the excise department, if the manufacturing cost of IMFL is up to ₹260/- per bulk litre, the excise duty is 450 % of the manufacturing cost or ₹750/- per proof litre whichever is higher. If the manufacturing cost exceeds ₹260/- per bulk litre, the duty is 300 % of the manufacturing cost.
Assuming a manufacturing cost of ₹400 per litre, IMFL would cost ₹2,200 (including ₹1,800 in excise), while MML would retail at about ₹1,480 (including ₹1,080 in excise). MML products will be priced between ₹148.50 and ₹205 per 180 ml bottle, making them far more affordable than comparable IMFL brands.
Consumer Outlook and Perception
A major factor in MML’s success will be how consumers perceive the new category. “Let me tell you, MML is nothing but IMFL — it’s the same thing,” Bapat stressed. “The only difference is pricing. Consumers can expect the same quality at a more affordable rate.”
MML will be sold only through licensed retail (FL-2) and hotel/restaurant (FL-3) outlets, not country liquor shops — ensuring quality control and regulatory oversight.
Valsa Nair, Former Additional Chief Secretary, Government of Maharashtra
The MML initiative stems from a report by a committee led by former Additional Chief Secretary Valsa Nair, formed in January 2025 under the Devendra Fadnavis-led government. The Cabinet approved the recommendations on June 10, followed by a government resolution outlining operational guidelines.
The move also revives an earlier attempt to promote grain-based distilleries dating back to 2007, which was shelved after legal challenges. This time, however, the government has built stronger structural safeguards and economic rationale.
Beyond revenues, the new policy ties into Maharashtra’s goal of boosting local manufacturing and employment. With over 70 licensed potable liquor units in the state, of which 22 are defunct and 16 operate only as retailers, the new framework could rejuvenate many idle facilities.
A Model for Other States?
While some observers see shades of Tamil Nadu’s and Rajasthan’s liquor models, Bapat believes Maharashtra’s approach is more innovative. “People say it’s a mix between Tamil Nadu and Rajasthan’s policies, improved to suit Maharashtra’s needs,” he said. “But this is a well-drafted, homegrown framework. If it succeeds, other states will surely follow.”
As MML hits retail shelves, its dual promise, to bolster government revenues and support local industry, is being closely watched. For now, optimism runs high among policymakers and producers alike.
“Everyone — from consumers to manufacturers to the government, is eagerly awaiting the results,” Bapat concluded. “It’s a big reform, and if implemented well, it will redefine Maharashtra’s liquor industry.”
New Avenue of Growth for Domestic Distilleries: Karan Kalani
Echoing similar views is Karan Kalani, Director of Deejay Distilleries Pvt Ltd. He believes that the policy is poised to transform the state’s spirits market, opening a new avenue of growth for domestic distilleries and offering a structured, quality-driven alternative to illicit and imported low-end products.
Karan Kalani, Director of Deejay Distilleries Pvt Ltd.
The new MML category will help the state achieve multiple objectives from curbing illegal inflows of liquor to improving consumer access and strengthening regional industry participation. “The new category will offer high-quality products on par with IMFL, but at a more affordable price point. This will curb illegal liquor entering from other states and give consumers a safe, reliable, and good-quality alternative,” Kalani said.
Market Realignment
“The affordability factor will drive this category. Earlier, consumers seeking lower-priced options had to depend on country liquor or unregulated sources. Now, with MML, they will have a legitimate, high-quality product,” Kalani noted.
The government currently earns around ₹25,000 crore in excise revenue, and expects an incremental ₹3,000 crore once MML stabilizes. Kalani believes this is achievable. “The revised duty structure has increased prices for popular IMFL brands like Imperial Blue, Royal Stag, and McDowell’s No.1. Simultaneously, MML will contribute significantly to revenue growth as production and distribution expand.”
Transition Phase, Not Chaos
While the market is witnessing a degree of flux following duty revisions, Kalani views this as part of a natural adjustment. “It’s not a chaotic situation—it’s a transition phase. The entire industry is undergoing realignment. In the next six to eight months, sales and consumer preferences will stabilize as new players enter the market and distribution strengthens across Maharashtra.”
He also observed that while some consumers are “downgrading” due to price increases in IMFL, the MML segment provides a quality downgrade option, far superior to illicit or country liquor, thus retaining consumers within the formal sector.
The MML policy is expected to give a strong growth impetus to regional distilleries, many of which previously found it difficult to compete with national or multinational brands. “This policy levels the playing field. Local distilleries now have a fair chance to grow within Maharashtra without having to battle MNCs directly,” said Kalani.
Kalani believes the trade will also benefit from the emergence of MML. “Retailers will find the segment attractive, selling a ₹150 product instead of ₹80 boosts turnover and income. Once availability improves, MML products will gain rapid acceptance across retail channels,” he said.
He also emphasized that each manufacturer will have flexibility in crafting their blends. “Every company will have its own recipe and style. Overall, the category will deliver a product at par with popular IMFL in terms of taste and quality,”
Kalani expects MML to record the highest growth rate in Maharashtra’s alcobev sector over the next year. “We expect initial sales of around 5 lakh cases, scaling up to 7–8 lakh cases as more producers come onstream. The first year will be about consolidation — experienced players will strengthen their presence, and the ecosystem will stabilize,” he concluded.
Marketing and Consumer Education will be Crucial: Vishal Jaiswal
According to Vishal Jaiswal & Vaibhav Jaiswal, Managing Directors of Konkan Agro Marine Industries and a senior industry observer, the policy has been carefully formulated after studying models in neighbouring states. The MML category is positioned between Indian Made Foreign Liquor (IMFL) and country liquor and targets the mid-market segment, offering better quality at affordable prices. “They wanted to increase the price of regular segments and at the same time offer an alternative. So, they decided to introduce a mid-segment category,” Jaiswal explained.
He added that the move is also part of a broader effort to revive the state’s manufacturing units. “Many units were shut for ages. The government was not getting any revenue from them. This policy aims to revive those units, create employment, and generate state income,” he said.
“The government has fixed the minimum segment price at ₹148.50. If we want to match the quality of existing IMFL products, the price has to be in the ₹160–₹180 range,” Jaiswal said. He emphasized that all MML products will be made from grain spirit, not molasses, ensuring a smoother and higher-quality profile. “Those who are brand-conscious and want to establish a reputation will definitely focus on quality,” he added.
However, Jaiswal also pointed out that marketing and consumer education will be crucial. “Manufacturers will have to invest in trials and awareness — to get consumers to taste and trust this new category. This is a holistic move, boosting quality, reviving industries, and strengthening the state’s revenue base,” Jaiswal summed up.
Fraught with challenges for distributors, retailers, and even some manufacturers: Pradeep Lulla
Giving a contrarian view is Pradeep Lulla, President of the Maharashtra Wine and Retailers Association. “When the MRP changed in June, a 180 ml whisky that cost ₹160 jumped to ₹220 — a 37.5% increase overnight. Distributors lost 3–4% margins instantly, and low-end consumers were priced out. Many shifted to country liquor, which saw a growth during that period.”
Pradeep Lulla, President of the Maharashtra Wine and Retailers Association
Lulla warns that the MML policy may not generate the initially projected ₹14,000 crore in incremental revenue. He predicts a modest increase of ₹1,000–2,000 crore, mainly due to consumer segmentation and brand loyalty.
“Consumers will not switch entirely from established IMFL brands. Some will reduce frequency, while others will revert to cheaper options. Retailers and distributors will adjust accordingly, cutting stock, rationalizing infrastructure, and tightening credit.”
He also flags distribution and consumer experience challenges. MML is restricted to Maharashtra, which fragments brand exposure. Travelers or consumers moving to other states won’t find their preferred MML brands, potentially eroding loyalty.
Lulla highlighted financial constraints. He said if the manufacturing cost for a 180 ml MML bottle is ₹21.43, the excise duty per bottle is going to be ₹57.86 and the cost of the 48-bottle case will be ₹2,777. “Margins will be tight, and success depends on efficient distribution, strong marketing, and retailer participation,” he says.
In short, MML could redefine Maharashtra’s liquor market. But whether it becomes a game-changer or a market correction remains to be seen. The coming months will test the policy’s design, the resilience of distributors, and the willingness of consumers to embrace a new mid-tier category.
Allied Blenders & Distillers Ltd (ABD) has commissioned a polyethylene terephthalate (PET) bottle manufacturing facility at its integrated complex in Rangapur in Telangana. With an annual capacity of over 600 million bottles, the new plant is equipped with robotics, automation, recycling, and energy-saving technologies—part of the company’s backward integration strategy to boost self-reliance and cut costs.
The inauguration was led by founder Kishore Rajaram Chhabria, alongside managing director Alok Gupta and executive director Arun Barik. “This facility will significantly strengthen our supply chain while improving profitability through savings in logistics and packaging costs,” said Gupta.
The Rangapur complex is among ABD’s flagship assets, housing a 65-million-litre extra neutral alcohol (ENA) distillery, an Indian Made Foreign Liquor (IMFL) bottling unit, and now, the PET facility. Regulatory approval was recently granted to increase grain spirit production to 615 lakh bulk litres per year.
In addition, the site is witnessing fresh investment with the setup of a single malt whisky plant at an outlay of ₹75 crore. The facility, expected to commence production by the end of this fiscal year, will mark ABD’s entry into the premium single malt segment. Once distilled, the whisky will mature for at least three years before hitting the market—meaning ABD’s first single malt is expected post-2029.
Betting on Premiumisation and Global Demand
Alok Gupta highlighted that single malt whisky is one of the fastest-growing categories globally, and Indian brands are gaining traction with international accolades. “This will be a fascinating opportunity for ABD as Indian single malts have captured the imagination of global consumers.”
The company already exports to 27 countries and plans to expand its footprint to 35 markets. Exports currently contribute 8% of ABD’s topline.
ABD has also recently introduced five luxury brands since January 2024, diversifying beyond its mass-market Officer’s Choice whisky and Zoya premium gin. Historically known for its sub-₹1,000 price segment, ABD is now positioning itself to compete head-on with international premium players.
Capex-Driven Growth Story
ABD is in the midst of a ₹527 crore capital expenditure programme aimed at operational efficiency, premiumisation, and capacity expansion. About 25% of this investment was completed in FY24, with 60% earmarked for FY25 and the remainder in FY26. The spend will also support the company’s plan to expand total distillation capacity from 71 million litres per annum (mlpa) to 121 mlpa by FY27.
According to Gupta, these investments are expected to lift EBITDA margins from 7.5% to 17% and improve return on capital from 18% to above 20% by FY28. ABD has guided for 14–15% annualised growth in net sales over the next three fiscals, projecting its topline to double in just over five years.
Beyond expansion, ABD continues to embed sustainability in operations. The Rangapur site incorporates water recycling, biomass fuel handling, and energy-efficient automation across production. These measures not only reduce environmental impact, but also improve cost structures, complementing the company’s growth-driven investments.
Listed on Indian stock exchanges in July 2024, ABD reported revenues of ₹3,541 crore in FY25. With backward integration through packaging, aggressive capex in distillation, and a strategic push into single malt, the company is betting on premiumisation and global growth to shape its next decade.
“Consumers are upgrading, regulations are becoming more supportive, and Indian spirits are getting their due recognition globally,” Gupta said. “We see this as the perfect time for ABD to expand beyond our traditional base and build a strong premium portfolio for India and the world.”
Paul John Whisky, Indian single malt whisky, in partnership with Avolta Duty Free has launched its second Limited Edition Bengaluru Duty Free Exclusive – The Bengaluru Habba.
This exclusive bottling with just 192 bottles is available only at the Kempegowda International Airport’s Duty Free from 19th September 2025 and is priced at ₹13,150. A collectible rarity, the whisky’s rich vibrant flavour profile and thoughtful packaging design captures the spirit of Bengaluru’s festivities, giving travellers and collectors a rare opportunity to experience the unique tropical character that defines Paul John’s legacy, while taking home the joyous celebrations of the city’s popular festivals.
Crafted in Goa, the Bengaluru Habba is a Master Distiller’s Special Selection, and is non chill-filtered, bottled at a robust 56.4% ABV and drawn from a single cask, with no additives and retaining its natural colour.
Tasting Notes
● Colour: Deep amber with glimmers of old oak
● Nose: A delightful burst of ripe tropical fruits laced with hints of cocoa and soft berry
notes
● Palate: Bright layers of baked citrus and toasted caramel unfold gracefully, balanced
with a gentle wisp of peat smoke
● Finish: Long, silky, and honeyed with an elegant touch of oak that lingers beautifully
