India overtakes France as UK’s biggest Scotch whiskey market

The Scotch Whiskey Association (SWA) said India imported 219 million 70 cl bottles of Scotch last year compared to France’s 205 million – representing over 200 per cent growth in the Indian Scotch market over the last decade.

As one of the key areas of focus for the UK in Free Trade Agreement (FTA) negotiations with India, now in its seventh round of talks, the SWA reported that increase Still only a fraction of the Indian whiskey market by volume due to high tariffs.

“Despite double-digit growth, Scotch whiskey still accounts for only 2 per cent of the Indian whiskey market,” the association said on Friday.

“SWA analysis suggests a UK-India FTA deal that reduces the 150 per cent tariff burden on Scotch whiskey in India could boost market access for Scottish whiskey companies, generating an additional GBP 1 billion over the next five years billion,” it noted.

Indian market value for Scotch exports comes in fifth at 282 million GBP, up 93 percent in 2021 and back France, Singapore and Taiwan. The 2022 trend sees the Asia-Pacific region surpassing the European Union (EU) as the industry’s largest regional market, with India, Taiwan, Singapore and China also witnessing double-digit post-pandemic growth .

SWA Chief Executive Mark Kent said: “During a year of significant economic headwinds and global supply chain disruption, the Scotch whiskey industry has remained an anchor of growth, supporting investment and job creation in Scotland and the UK. “

“By reducing tariffs through the UK-India Free Trade Agreement, continuing the duty freeze in the March budget, and ensuring the industry’s continued ability to advertise our world-class product in our domestic market, the Scottish and UK Governments Scotch can be trusted. The whiskey industry will reinvest its success across the UK,” he said.

Overall, the year 2022 sees solid growth in worldwide Scotch exports We GBP maintained its top position as the largest market with a value of 1,053 million.

The total export value of Scotch whisky, one of the UK’s biggest exporters, increased by 37 per cent to 6.2 billion GBP.

UK Trade Minister Nigel Huddleston said: “Scotch whiskey is one of the UK’s great export success stories, contributing billions of pounds to the economy and supporting thousands of jobs, so I am delighted to see these export figures Which reflects the growing global demand.

“It is essential that we continue to support the industry as it expands to new markets around the world thanks to our new trade agreements such as the CPTPP. [Comprehensive and Progressive Agreement for Trans-Pacific Partnership] and in India. As we set our target of £1 trillion in exports by 2030, I am confident that we can see Scotch whiskey going from strength to strength in the years to come.”

According to SWA figures, on average the equivalent of 53 bottles of Scotch whiskey are exported – up from 44 per second in 2021. Bottled blended Scotch whiskey accounts for 59 percent of exports, with single malts accounting for 32 percent. Export of Scotch Whiskey by value.

“The whiskey industry directly employs 11,000 people in Scotland alone, of whom more than 7,000 work in rural areas and more than 42,000 jobs across the UK,” said Mary Goujian, Cabinet Secretary for Rural Affairs and the Islands, Scottish Government “We will continue to engage and listen to the whiskey industry to understand how we can improve export opportunities and remove barriers to trade.”

The text of this story is published from a wire agency feed without any modification.