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Scotch whisky: India replaces France as UK’s largest Scotch Whisky market

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Batori24 Bureau
Batori24 Bureau
Batori24 is a Vernacular based Assamese news portal based in Guwahati Assam. We are a dedicated news channel covering news and stories across the globe with special reference to Assam, north-east along with National and International news.

According to the most recent data, India has surpassed France as the world’s largest buyer of Scotch whisky by volume.

The Scotch Whisky Association (SWA) reported that whisky producers exported 219 million bottles to India, a 60% increase from 2021.

The United States remains the largest buyer in terms of value, importing Scotch whisky worth £1.05 billion ($1.27 billion) in 2022. India was ranked fifth.

Scotch has long been regarded as a status symbol in India, but it still accounts for only 2% of the world’s largest whisky market.

 

Millions of Indian consumers have long preferred blended whisky, which is less expensive. However, demand for more expensive single malts has increased as well, owing to cultural shifts and an increase in Indian spending power.

While India’s share of global Scotch sales has increased – export volumes to the country have increased more than 200% in the last decade – exporters see plenty of room for expansion.

Due to lobbying by domestic distillers, India charges a 150% import tariff on each bottle of Scotch whisky, driving up prices and squeezing profit margins for producers.

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Scotch whisky is one of the products whose sales could increase if the deal is approved and tariffs are reduced – the SWA stated in a statement that this could result in “an additional £1bn of growth over the next five years” based on in-house analysis.

France ranked second on the SWA’s list in terms of both value and volume.

Aside from India, Scotch producers experienced double-digit growth in Taiwan, Singapore, and China “as the post-Covid recovery continued,” according to the association.

This also ensured that the Asia-Pacific region surpassed the European Union as the largest regional market for the product in 2022, importing £1.8 billion in Scottish whisky, accounting for 29% of total global exports, which increased 37% to £6.2 billion.

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