Indian spirits group Radico Khaitan has announced a joint venture with the world’s largest manufacturer of alcoholic beverages, Diageo, to develop new Indian Made Foreign Liquor (IMFL) brands.

The deal, which was reported by The Economic Times some time back, marks Diageo’s latest attempt to develop Indian spirits brands after selling its IMFL business four years ago. Radico said the venture was subject to regulatory clearance but declined to reveal the financial details of the agreement.

The company added that both it and Diageo would continue to sell their own respective brands in India. Diageo-owned brands including Smirnoff, Johnnie Walker and Ciroc vodka are already sold in India.

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