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India aims for growth in alcobev exports with global quality acceptance, removal of non-tariff barriers
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
For instance, India is trying to get its local whiskies qualified as Scotch whisky under the India-UK FTA, where the next round of talks is expected to take place after June 2024.
Noting a year-on-year growth in exports of Indian alcoholic beverages, the Union Commerce Ministry has said that high-end Indian alcohol brands are witnessing good sales as well as winning awards globally despite facing issues of definition and nomenclature.
India is trying to get such issues resolved for Indian alcoholic beverages as part of discussions in all existing negotiations for Free Trade Agreements (FTAs).
For instance, India is trying to get its local whiskies qualified as Scotch whisky under the India-UK FTA, where the next round of talks is expected to take place after June 2024.
Also Read: Diageo India CMO on how changing consumption goals are reshaping the alcohol market
Indian whiskies get matured in a year’s time, while the UK doesn’t treat whiskies matured for less than 3 years as Scotch whisky. UK’s current stand is being opposed by the Indian government as well as alcohol manufacturers.
India exported alcoholic beverages worth $180 million in the calendar year 2022, which formed 0.16% of the total global exports of $1,13,663 million in the segment. India currently ranks 40th in global exports of alcoholic beverages.
As per ITC export potential estimates, India has an unrealised export potential of $11,186 million in alcoholic beverages. The top 5 exporters of alcoholic beverages in the world, with decreasing order in market share, are the UK (7.23%), Germany (6.24%), Netherlands (4.79%), Canada (4.78%) and France (4.05%).
Also Read: India’s alcoholic beverages exports to cross $1 billion in next few years
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