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Reasons for the Growth of Wine Companies in India

It has been witnessed that the wine industry is growing at a steady annual rate of 30% and it is expected that it will be the most upcoming segment in the history of Indian food industry.

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Reasons for the Growth of Wine Companies in India

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  1. Reasons for the Growth of Wine Companies in India It has been witnessed that the wine industry is growing at a steady annual rate of 30% and it is expected that it will be the most upcoming segment in the history of Indian food industry. India’s mounting wine industry is at the core of a dynamic evolution. In previous years, the total wine production in India hit the highest record with 17 million liters. With a rapid growth in this segment, many wine companies in India are getting streamlined for expanding domestic wine consumer market and supporting the growth of the industry sector. The Wine industry in India has the potential to lead the race of global market

  2. competitor. In the present scenario, the India Government, in aggregation with recently formed IGPB (Indian Grape Processing Board), is directed towards finalizing the management of Indian wine standards associated with the International Organization of Vine and Wine (OIV) guidelines. Thus, the government is all set to be a promoter for state reform with the good news of setting new standards for investors, entrepreneurs, and traders who have eagerly anticipated for the growth of the industry over the past decades. With the introduction of more Wine companies in India, the majority of alcohol consumers moved over the wine consumption resulted in the steadiest growth of the industry. However, wine is a preferable drink largely for the upper-income earner groups who have a high volume of their disposable income. And that is the reason why the majority of wine consumers belong to the urban states of India like Maharashtra, Delhi, Karnataka, and Goa accounting for estimated 75% of the total wine consumption in the country. One of the most encouraging aspects for wine companies in India is the relaxed levy excise duties on alcohol by the Indian State Government to determine their prices and therefore, every state has different licensing, registration, and taxation procedure in terms of registering, manufacturing, labeling, and sales of wine. And as a result, foreign investment in the Indian wine industry is stained by exertion in navigating the fragmented market.

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