India emerges as biggest importer of Scotch whisky!Business News

September 17, 2016 09:35
India emerges as biggest importer of Scotch whisky!

The Scotch Whisky Association (SWA) announced that, India has emerged as one of the world’s fastest growing Scotch whisky import markets with value up 28 per cent to £43 million in the first six months of 2016.

According to the SWA, the amount of Scotch whisky sold overseas increased for the first time since 2013, largely thanks to India for registering a massive jump in shipment value.

India has became the third-biggest export market for Scotch at 41 million bottles, marking a 41 per cent increase in sales volumes, after France (90.9 million bottles) and the US (53.1 million bottles).

The SWA said that, “The growth of exports to India stood out, with value up 28 per cent to £43 million.” “The full potential of the Indian market would only be delivered through liberalisation of the exorbitant 150 per cent basic customs duty. We urge the UK government to prioritise discussions with India as it develops its post-Brexit pirorities,” it added.

David Frost, chief executive of SWA, said that, “The first half of 2016 was marked by an improving Scotch whisky export performance, suggesting a strengthening in global consumer demand compared to the last couple of years.”

“It is clear, however, that the uncertainties of the Brexit vote will create challenges for exporters and we continue to encourage early clarity on the likely shape of the UK’s future trading relationship with the EU and other countries,” he said.

Recently, Diageo, a leading UK-headquartered distilling company, took over Indian liquor baron Vijay Mallya’s United Spirits distribution network in India, that is being linked to the sale of 12 million more bottles than last year. Most of that was in bulk, for bottling in India, or blending with Indian whiskies.

Although, India also registered a marked rise, by more than half, in the amount of single malt whisky shipped to India, adding up to more than 700,000 bottles.

Also Read: Donald Trump's investments in India to impact US foreign policy!

Nandini

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