London:
Scotch whisky has gained huge popularity amongst Indians and the country has emerged as one of the world's fastest growing Scotch whisky import markets. Further, it’s value has witnessed an upsurge of 28 per cent to 43 million pounds, a trade body said on September 16.
Data released by the Scotch Whisky Association (SWA) displayed that the amount of Scotch whisky sold overseas increased for the first time since 2013. A major reason for the increase is being attributed to its massive demand in the Indian market. India has cemented its position as 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 growth of exports to India stood out, with value up 28 per cent to 43 million pounds," the SWA said. The industry body also urged the UK government to take urgent actions and utilize the complete potential of the Indian market. “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 priorities," it added.
Diageo, a leading UK-headquartered distilling company, recently took over Indian liquor baron Vijay Mallya's United Spirits distribution network in India, which 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 mixing with Indian whiskies.
However, India also registered a good rise, by more than half, in the amount of single malt whisky shipped to India, adding nearly more than 700,000 bottles. Scotch, a patent of Scotland, overall had the equivalent of 533 million bottles shipped from the UK in the first six months of 2016, marking a 3.1 per cent increase. SWA attributes it to an "industry-wide emphasis on craftsmanship and provenance, backed by investment".
