INSUBCONTINENT EXCLUSIVE:
LONDON: India has surpassed France to end up being the UKs largest market of Scotch whisky in terms of volume with a 60% hike in imports in
2022 over the previous year, according to figures from Scotlands leading market body
The Scotch Whisky Association (SWA) stated that India imported 219 million 70cl bottles of Scotch compared to Frances 205 million in 2015
representing growth of the Indian Scotch market of more than 200% in the previous decade.In terms of worth, the United States continued to
hold on to its topmost position as the largest market at 1.1 billion pounds
The overall export worth of Scotch whisky - one of the UKs most significant exporters - was up 37% by worth to 6.2 billion pounds
As one of the key sectors of focus for the UK in the open market contract (FTA) talks with India, now in their seventh round of settlements,
SWA pointed out that the hike in volume still comprises just a portion of the Indian whisky market due to high tariffs
Despite double-digit growth, Scotch whisky still just comprises 2% of the Indian whisky market, the association stated on Friday
SWA analysis shows that a UK-India FTA deal which eases the 150% tariff burden on Scotch whisky in India might increase market gain access
to for Scotlands whisky business, allowing for an extra 1-billion pound of growth over 5 years, it noted.The worth of the Indian market for
Scotch exports can be found in at fifth worth 282 million pounds, up 93% in 2021 and behind France, Singapore and Taiwan
The 2022 trend likewise saw the Asia-Pacific region overtake the EU as the industrys largest regional market, with double-digit
post-pandemic growth also seen in Taiwan, Singapore and China besides India
In a year of economic headwinds and supply chain disturbance, the industry continued to be an anchor of development, stated SWA chief Mark
