Word: newe
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Dates: during 2000-2009
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...wine, with spirits accounting for about 70% of the market. Nearly all of that is whiskey - a legacy of the colonial fondness for Scotch. India is the largest whiskey market in the world, so American whiskey producers figure they've got a head start in India compared to other new markets. "Indians are preordained whiskey drinkers," says Frank Coleman, senior vice president of the Distilled Spirits Council of the United States, a trade group for American spirits makers. "They've developed a taste for whiskey...
...whiskey exports and an even tinier fraction of the $7.5 billion Indian whiskey market. Coleman is hoping to change that. In October, his trade group organized a three-city tour of India to introduce Indian consumers to the pleasures of bourbon, rye and other American whiskeys. At the New Delhi event, the New York City bar legend Toby Cecchini, who is credited with inventing the Cosmopolitan, mixed classic cocktails and some with an Indian twist, like whiskey sours spiked with ginger, for bar managers and bartenders from the city's top hotels and restaurants. "The Manhattans are awesome," said...
...well as additional and constantly changing state taxes and regulations. The complexity of the market means that only big producers like Jack Daniels and Jim Beam can afford to make a go in India on their own, and usually only with their premium labels. Although single-malt is a new status symbol in India, Scotch-whisky producers have been similarly frustrated in their efforts to crack the Indian market. In response to complaints at the World Trade Organization, India has lowered its base tariff, but alcohol importers and trade representatives from the U.S. and E.U. are pressuring India to lower...
...drinking wine is a mark of urban sophistication. The wine market has grown from virtually zero 10 years ago to $253 million last year, and it is expected to more than double to $630 million by 2013. "There's a complete turnaround," says Gianander Dua, an importer based in New Delhi. He represents not just French and Italian wines but also those from Argentina and Austria, which are much smaller wine-exporting countries. They all see the Indian consumer as a safe harbor in a global recession, Dua says. "The buying capacity in India is there." (Read "Recession...
...Read "India's New Wines...