Wine Industry Growth Stalled by Tax Policies in India - PTI
Dec 13, 2023 21:48
Stringent tax policies and categorization of wine as an alcoholic beverage in India are hindering the growth of the wine industry, according to a wine manufacturer. Winemakers are calling for friendly policies to boost the market.
Illustration: Uttam Ghosh/Rediff.com
New Delhi, Dec 13 (PTI) Stringent tax policies and categorisation of wine as an alcoholic beverage have affected the growth of the wine industry in India, a wine manufacturer has said.
"In India, wine is considered an alcoholic beverage, unlike in Western countries. This categorisation has posed innumerable challenges to wine manufacturers and retailers," Puja Sekhri, Director of Fratelli Wines Private Limited, said in a statement.
Sekhri said the stringent tax policies, inter-state policies and currency fluctuations have significantly affected the growth of the wine industry in India.
Winemakers from across the country, at the Vinexpo India and Sial India Summit last week, discussed the need for friendly policies to propel the wine market in India.
The two events saw the participation of over 20 ambassadors and 300 exhibitors, who showcased a wide range of wines by national and international winemakers.
"Not only India is now the biggest market in the world, with over 1.4 billion inhabitants, but the appetite of the middle class for new and innovative products is amazing," said Nicola Trentesaux, Director, SIAL Group.
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.