| The market for imported wines is expanding at a brisk pace; posing an impressive growth of 80% in '05-06 reports Economic Times. According to the figures released by the customs authorities, US $5.24million wine was imported in '04-05 while the figure was close to US $10million for '05-06. Indian Financial year is from April-Mar.
Wine imports from France accounted for almost half of the total imports in value terms. Italy was at number two, followed by Australia. Besides the three main wine producing countries, the others in the list are Latin American countries such as Argentina and Chile , apart from Portugal, Spain, Mexico, Sri Lanka and Maldives.
The success of Sula, Indage group and Grover Vineyards has lured more entrepreneurs to the fledgling wine industry, adds the report. The changes are most visible at Nashik, the hub of India's wine industry. A number of farmers, who have been growing table grapes for generations, are also seen investing in bottling plants. For more info, read http://economictimes.indiatimes.com/articleshow/548412.cms
We at Indian Wine Academy fully understand and subscribe to this trend. It must be kept in mind that the increase is in value terms and not the number of cases sold which continue to grow at about 30-35% annually.
Although every existing importer claims there is no scope for more importers or expansion of business, they are all coolly increasing their individual imports and revenues by 50-200% annually depending on their existing base. The number of new importers is also increasing at a fast pace and many new portfolios are being added.
With the sales of wines allowed in supermarkets in Mumbai (Delhi should follow soon, we hope) and new air-conditioned stores opening in Delhi, stocking hundreds of wine labels, an explosion in foreign wine sales is on the anvil, even though the duties are ridiculously high-
Subhash Arora |
