Join us for this event to uncover the opportunity and consumption trends in one of the largest alcohol markets globally. The event is aimed to support UK alcohol brands in finding their route to the fast-growing Indian market.
In 2022, India overtook France as UK’s largest market of Scotch whisky (volume wise) with a 60% hike in imports over the previous year. In value terms, India is already in the top five UK Scotch export markets with sales doubling between 2020 and 2022. And it isn’t just whisky – the growth is spread across categories from premium gin, rum, agave, and tequila, with the country accounting for a third of global alcohol volume growth between 2021 and 2022 as per International Wine & Spirits Record (IWSR).
The UK government has been negotiating a free trade agreement (FTA) with India for a lower tariff on whisky. Once signed, the trade deal is expected to be transformational for UK brands expanding into the Indian market.
India is also currently witnessing an important trend of Premiumisation. Increasing affluence, the rise of the middle class, and health consciousness is creating a fast-growing preference towards premium products. Consumers are also increasingly turning to at-home consumption and looking to on-premises retail to provide experience-led drinking occasions, which are further broadening the top-shelf spirits’ market. Keshav Prakash, the founder of the Vault Festival says: ‘I have no doubt that India will, within the next few years, be one of the top three markets globally for craft, boutique, and ultra-premium spirits for ‘at-home’ consumption.’
To help businesses access this market full of opportunities, we’re running this ‘India Market Discovery Week (IMDW) curtain raiser’ event along with Vault Fine Spirits, one of the largest import houses of craft spirits and creator of the Vault Home Bar Festival, and Tulleeho, India’s leading alco/bev training and education company that works with domestic and international brands to help them create engagement in the market.
In 2023, Santander ran the first edition of IMDW with over 40 brands joining us for the launch event and 14 UK-based premium spirits companies travelling with us to India. The programme was centred around participation at the Vault Home Bar Festival in Mumbai to help brands get first-hand feedback from Indian consumers. On the back of this mission, six of these companies have already signed up with importers or are in the final stages of commercial contracts.
Join us for this introductory webinar where, alongside industry veterans Keshav Prakash, Founder of the Vault, and Vikram Achanta, Founder of Tulleeho, we will provide valuable market insights and a practical roadmap for UK alcohol companies to enter and access India. We will also talk about the upcoming IMDW 2024 programme and participation in the Vault Home Bar festival planned for February 2024.
This event will be followed by the opportunity to have a 1:1 consultation with Santander, the Vault, and Tulleeho for brands interested in joining the IMDW 2024 programme. Interest registration for 1:1 consultations will open after the webinar for interested companies.
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