India Targets USD 1 Bn In Beverage Exports Amid Growing Global Demand

2024-09-05 02:28:47

(MENAFN- KNN India) New Delhi, Sep
5 (KNN) The Indian government is setting its sights on USD 1 billion in exports from both alcoholic and non-alcoholic beverages over the coming years, driven by a surge in global demand for Indian liquor.

The Agricultural and Processed Food Export Development Authority (APEDA), under the Ministry of Commerce and Industry, announced its plans to promote Indian beverages in international markets.

In a statement issued by the Commerce Ministry, it was noted that APEDA, as part of the 'Make in India' initiative, aims to significantly increase exports of Indian spirits to major foreign destinations.

"APEDA is potentially eyeing USD 1 billion in export revenue over the next few years," the ministry said.

Currently, India ranks 40th globally in alcoholic beverage exports, with exports surpassing Rs 2,200 crore in FY24. Key export markets include the UAE, Singapore, the Netherlands, Tanzania, Angola, Kenya, and Rwanda.

In a significant development for the Indian alcoholic beverage sector, Diageo India (United Spirits Ltd) is preparing to launch Godawan, an artisanal single malt whisky produced in Rajasthan, in the United Kingdom.

The whisky, made under the 'Make in India' initiative, is part of a project exceeding Rs 200 crore in investment.

The Government of India has set an ambitious target of reaching USD 2 trillion in exports by 2030-USD 1 trillion from goods and USD 1 trillion from services.

This vision aligns with major national initiatives like 'Make in India' and 'Atmanirbhar Bharat,' which aim to position India as a global manufacturing hub.

Vinod Giri, Director General, Brewers Association of India, highlighted the vast export potential of Indian products, particularly in markets like the United States, Africa, and Europe.

"While single malts will enhance India's reputation as a producer of high-quality whisky, larger volumes will come from more accessible products like premium Indian whiskies and rums," he added.

(KNN Bureau)

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