India's Alcoholic Beverage Exports to Grow 15-20% in 2023

New Delhi, Oct 16 (PTI) India's alcoholic beverages exports are growing in double digits and this year are expected to log about 15-20 per cent rise, a senior government official said on Wednesday.

Additional Secretary in the Department of Commerce Rajesh Agrawal said that it is a USD 135 billion market across the world and India is just at USD 350 million.

"So there is a lot of scope and headroom available for India to grow in this sector. In this sector, we are clocking double digit growth year after year. Last year we did 20 per cent and this year also we are hopeful to have a growth of around 15-20 per cent," he told reporters here.

He added that the Indian industry is now gearing up to the global demand.

Commerce Secretary Sunil Barthwal said that India is promoting exports of value-added products in food as well as marine sectors.

The country is looking at USD 1 billion worth of these exports in the coming years. In 2023-24, the exports stood at USD 389 million.

The commerce ministry's arm APEDA (Agricultural & Processed Food Products Export Development Authority) has earlier said that India currently ranks 40th in the world for alcoholic beverage exports.

The major export destinations include UAE, Singapore, Netherlands, Tanzania, Angola, Kenya and Rwanda.

Confederation of Indian Alcoholic Beverage Companies (CIABC) Director General Anant S Iyer has recently stated that support from the Centre and state governments will help the country to achieve USD 1 billion target.

Vinod Giri, Director General, the Brewers Association of India has also said that huge potential is there in the different countries for Indian products.

Giri has suggested the government to urge states to include the element of export promotion in state excise policies.

The government is taking steps to promote these exports by encouraging the industry to participate in global fairs and seeking greater market access in other markets.