Wine Industry Woes Mount But Long-term Future Looks Bright

Domestic demand weakness, rising excise rates and dwindling tourist numbers all combined to lead to Indian wine sales declining by 60% in the nine months through to June 2009, according to data released by the Indian Grape Processing Board (IGPB). With the domestic wine market still small and relatively new, and with prices already high compared to domestic spirits and economy beers, the sector was always going to be hurt by rate increases during a period of spending uncertainty. However, BMI remains confident that the industry's long-term future will be

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