Indian Alcoholic Beverage Industry projected to reach $64 Billion

Indian alcoholic beverage industry is expexted to reach $64 billion over the next five years with a growing rate of 6.54% between 2023-27. This is due to the rising incomes, urbanisation, increased acess, premiumisation and younger consumers, according to a report by International Spirits and Wines Assocation of India - Iswai.

the alcolic beverage sector accounts for 2% of India's nominal Gdp and generates employment to over 80000 people, in related sectors such as agricolture, F&B, retail and hospitality.

Nita Kapoor, chief executive of the Iswai, said: " the alcohol industry holds a vital position within the national economy, presenting opportunities for growth, job creation adn revenue generation. As we look to the future, the importance of the alcohol industry in India is poised to expand. Therefore, it is crucial to simplify its operational complexities, enhance its Ease of Doing Business and unlock its full potential for growth".

More information here: Indian Alcobev Industry: Indian alcoholic beverage industry may reach $64 billion over the next 5 years, ET Retail (indiatimes.com)