Growth: India’s AlcoBev market size of $52.4 billion targeted to touch astounding $64 billion by 2030
MUMBAI: A report by International Spirits & Wines Association of India (ISWAI), the apex body of the premium AlcoBev sector, has suggested that with an estimated market size of $52.4 billion in 2021, roughly 2% of the country's nominal GDP, the Indian AlcoBev industry was significant and burgeoning (INR 3.9 lakh crore, including country liquor). Projections in the report suggested that the Indian alcoholic beverage industry could reach an astounding $64 billion over the next five years, ensuring India's position as the fifth-largest contributor to global market revenues in the near to medium term.Report titled “Economic Value of the Indian Alcoholic Beverage Industry”, was unveiled recently at the hands of Amitabh Kant, G20 Sherpa and former CEO, NITI Aayog.The comprehensive report ta...