Indian Wine Market is Set for Growth!
Where does the Indian wine market stand vis-a-vis the global scenario?
Compared with the major global markets, the Indian wine market is infinitesimal. However, because we started from such a low base, the growth of the wine market year on year has been impressive.
Despite numerous logistical problems and irrational taxation, volumes have been growing at more than 25% every year.
Total volumes were forecast to increase from 1.2 million cases in 2007-2008 to 5 million cases in five years and 50 million cases in 2020.
What in your view is the scope of the wine market in the next five-seven years?
The forecast for the wine industry over the next five years continues to be good.
The real change will come, however, only after the wine retail sector improves and the taxes come down further.
Do you see a demand for sommeliers growing in the coming years?
Yes, as Indians become more accustomed to drinking wine with their meals, we will see the tribe of sommeliers grow in fine restaurants and hotels across the country.
Author: Girija Duggal (HT Horizons)
Date: 29th January, 2011
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