Wednesday 27 July 2011

India’s Winemakers Tap Growth as Taxes Help Push Prices Higher Than Tokyo

http://www.bloomberg.com/news/2011-07-26/india-s-winemakers-tap-growth-as-taxes-help-push-prices-higher-than-tokyo.html?cmpid=

“The demographics favor the growth of wine in every single way,” said Sula Vineyards Chief Executive Officer Rajeev Samant.“Young, urban professional women are starting to drink socially, which never happened a generation ago, and a lot of them are preferring wine.”

Wine Culture

Sakshi Manchanda, 24, said she gave up tequila and vodka after visiting France two years ago.
“After having my first glass of wine, I realized this is the only form of alcohol I could enjoy,” said Manchanda, who works at her family’s real-estate and construction business.

“It’s one of the most sophisticated forms of alcohol. I’m trying to get my friends hooked on to wine, too, to keep me company.”

She regularly visits New Delhi’s Olive Bar & Kitchen, which on a recent Saturday night was full of diners choosing from a list of almost 60 wines to pair with their Mediterranean food.

“In the last seven years, wine culture has really evolved,” said Anshuman Vyas, Olive Bar’s manager.

“We used to sell three to four bottles at that time. Now, we sell 14 to 15 bottles a day.”

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Mumbai-based Sula’s 1,500 acres of vineyards are in Nashik, the country’s largest wine-producing region. India, which produces as much as 11 million liters of wine yearly, grows wine grapes on about 6,000 acres, according to estimates by Indian Wine Academy, a New Delhi-based consulting company.

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