LONDON: India has overtaken France to become the UK’s largest market Scotch whiskey in terms of volume with a 60% increase in imports in 2022 compared to the previous year, according to data from Scotland’s leading industry body.
THE Scotch Whiskey Association (SWA) said India imported 219 million 70cl bottles of scotch compared to France’s 205 million last year, which represents growth in the Indian market Scottish market by more than 200% in the last ten years.
In terms of value, the US continued to hold its top position as the largest market at £1.1 billion. The total export value of Scotch whisky, one of the UK’s biggest exporters, rose by 37% in value to £6.2bn.
As one of the key sectors of interest to the UK in the free trade agreement (FTA) talks with India, now in their seventh round of negotiations, SWA stressed that the increased volume still represents only a fraction of India’s whiskey market due to high tariffs.
“Despite double-digit growth, Scotch whiskey still accounts for just 2% of the Indian whiskey market,” the association said on Friday. “SWA analysis shows that a Free Trade Agreement between UK and India easing the 150% tariff burden on Scotch whiskey in India could increase market access for Scotch whiskey companies, enabling a further £1 billion of growth over five years,” he noted.
India’s market value for scotch exports ranks fifth with a value of £282 million, up 93% in 2021 and behind France, Singapore and Taiwan. The 2022 trend also saw the Asia-Pacific region overtake the EU as the industry’s largest regional market, with double-digit post-pandemic growth also seen in Taiwan, Singapore and China in addition to India. “In a year of economic headwinds and supply chain disruptions, the industry has continued to be an anchor for growth,” said Mark Kent, head of SWA.
THE Scotch Whiskey Association (SWA) said India imported 219 million 70cl bottles of scotch compared to France’s 205 million last year, which represents growth in the Indian market Scottish market by more than 200% in the last ten years.
In terms of value, the US continued to hold its top position as the largest market at £1.1 billion. The total export value of Scotch whisky, one of the UK’s biggest exporters, rose by 37% in value to £6.2bn.
As one of the key sectors of interest to the UK in the free trade agreement (FTA) talks with India, now in their seventh round of negotiations, SWA stressed that the increased volume still represents only a fraction of India’s whiskey market due to high tariffs.
“Despite double-digit growth, Scotch whiskey still accounts for just 2% of the Indian whiskey market,” the association said on Friday. “SWA analysis shows that a Free Trade Agreement between UK and India easing the 150% tariff burden on Scotch whiskey in India could increase market access for Scotch whiskey companies, enabling a further £1 billion of growth over five years,” he noted.
India’s market value for scotch exports ranks fifth with a value of £282 million, up 93% in 2021 and behind France, Singapore and Taiwan. The 2022 trend also saw the Asia-Pacific region overtake the EU as the industry’s largest regional market, with double-digit post-pandemic growth also seen in Taiwan, Singapore and China in addition to India. “In a year of economic headwinds and supply chain disruptions, the industry has continued to be an anchor for growth,” said Mark Kent, head of SWA.
