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Magadh Today > Latest News > Business > Indian Single Malts Pip Foreign Brands In Sales, Overtake Global Giants For 1st Time
Business

Indian Single Malts Pip Foreign Brands In Sales, Overtake Global Giants For 1st Time

Gulshan Kumar
Last updated: 2024/01/08 at 1:46 PM
By Gulshan Kumar 2 years ago
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In a significant turn of events, Indian single malts, crafted by homegrown distillers, have outpaced global giants in sales for the first time, capturing approximately 53% of the market share. According to preliminary estimates by the Confederation of Indian Alcoholic Beverage Companies (CIABC), local single malts contributed around 3,45,000 cases out of the total 6,75,000 cases sold in India in 2023. In contrast, Scottish and other international brands accounted for the remaining 3,30,000 cases.

CIABC’s Director-General, Vinod Giri, stated that the local brands exhibited a robust growth of around 23% in 2023, while their imported counterparts saw a more conservative 11% growth, marking a significant milestone.

This achievement is hailed as a testament to the remarkable progress of Indian whisky makers, once subject to mockery just a decade-and-a-half ago. Thrivikram Nikam, Joint MD of Amrut Distilleries, emphasized that Indian whisky makers have now established themselves as leaders in terms of quality and refinement.

The trend towards favoring ‘Made in India’ brands has prompted major players like Diageo and Pernod Ricard, known for sourcing single malts from Scotland, to introduce local brands. Diageo launched Godawan in 2022, and Pernod recently unveiled its first Indian single malt, Longitude 77.

Kartik Mohindra, Chief Marketing Officer at Pernod India, highlighted India’s diverse and fast-growing market, noting that the younger audience is exploring and embracing niche products, creating ample demand for innovation.

Paul P John, Chairman of John Distilleries, commented on the growing influence of Indian companies, stating that foreign brands are now “panicking” and attempting to catch up. He added, “India has arrived.”

Indian single malt makers dismiss the “arrogance of Scotch puritans,” asserting that the fantastic quality of Indian single malts and a willingness to experiment contribute to their popularity.

Prem Diwan, Chairman and MD of Devans Modern Breweries, highlighted the fantastic quality of Indian single malts and the experimental spirit of Indian makers, challenging traditional Scottish processes.

The robust demand for Indian single malts signals a shift in consumer preferences and showcases the global competitiveness of India’s whisky industry.

 

 

 

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