India Aims to Boost Alcoholic Beverage Exports to Rs 8,000 Cr [Current Affairs]
India is setting ambitious goals to significantly increase its presence in the global alcoholic beverage market, targeting exports worth US$ 952.9 million (Rs. 8,000 crore) in the coming years. As part of the ‘Make in India’ initiative, the government, supported by the Agricultural & Processed Food Products Export Development Authority (APEDA), seeks to elevate India from its current 40th position in global alcoholic beverage exports. The aim is to achieve US$ 1 billion in export revenue.
Current Export Status and Key Markets
In the fiscal year 2023-24, India’s alcoholic beverage exports reached over Rs 2,200 crore (US$ 262.1 million). Major markets include the UAE, Singapore, Netherlands, Tanzania, Angola, Kenya, and Rwanda.
Notable Developments
A significant development in this strategy is the launch of ‘Godawan,’ a single-malt whisky produced in Rajasthan by Diageo India (United Spirits Ltd.), which will be introduced in the UK. This product is expected to enhance India’s reputation for premium whiskies.
Export Potential and Recommendations
Vinod Giri, Director General of the Brewers Association of India, highlights that while single-malt whiskies will boost India’s global image, the majority of export volumes will come from premium Indian whiskies and rum. He identifies the US, Africa, and Europe as key regions with substantial export potential. Giri recommends that the government encourage states to incorporate export promotion into their excise policies to help realize this potential and capture a larger share of the international spirits market.
Source: currentaffairs by adda247
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