India’s alcoholic beverage exports are growing rapidly, with a double-digit rate and an expected 15-20% increase this year, said a senior official on Wednesday, October 16. Additional Secretary Rajesh Agrawal of Department of Commerce mentioned that the global market is worth $135 billion, while India’s share is $350 million.
India’s alcohol exports reach 20% in FY24
While talking to Economic Times, Additional Secretary Rajesh said, “So there is a lot of scope and headroom available for India to grow in this sector. In this sector, we are clocking double digit growth year after year. Last year we did 20 per cent and this year also we are hopeful to have a growth of around 15-20 per cent.” In addition, he said that the Indian industry is now preparing to meet the global demand.
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Commerce Secretary Sunil Barthwal said that India is boosting exports of value-added food and marine products. The goal is to reach $1 billion in exports in the coming years. In 2023-24, exports were at $389 million.
India ranks 40th worldwide in alcohol export
For now, India ranks 40th globally for alcoholic beverage exports, as mentioned by the commerce ministry’s unit, APEDA (Agricultural & Processed Food Products Export Development Authority) earlier.
Notably, the major export destinations are UAE, Singapore, Netherlands, Tanzania, Angola, Kenya, and Rwanda. “The support from the central and state governments will help India in achieving the $1 billion target,” was quoted recently by Confederation of Indian Alcoholic Beverage Companies (CIABC) Director General Anant S Iyer.
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Furthermore, Vinod Giri, Director General of the Brewers Association of India, mentioned that Indian products have huge potential in various countries. He suggested the government encourage states to include export promotion in their excise policies.
Moving forward, the government is promoting these exports by encouraging the industry to join global fairs and working to get better market access in other countries.
