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Markets
India is just a glass away
Among the most promising emerging markets
is India, with an increase in the production of wine that
makes contact with that country more interesting. A possible
introduction of lower taxes benefits the offer.
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The
Indian market is growing fast, offering every day more interesting
possibilities for western producers.
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Population:
1,147,995,898. Estimated figures in July, 2008
Language: Hindi y and several English
varieties as a second language
Form of Government: Federal Republic
Capital City: New Delhi |
One
of its main advantages is related to the English culture that
permeated India in times of colonization. This prepared the
ground for what is known today as the wine boom in
India.
According to the French publisher Vitisphere,
the market multiplied ten times during the last decade (+52%
in 2007) and it is estimated that it will double in productivity
by 2010
The growth of the local production is considerable: it rose
from 2 million liters produced in
4 Indian wine cellars to 13 millions produced by a hundred
of wine cellars.
However, the demand widely surpasses this production, and
this new market constantly receives wine offers from all over
the world.
Undoubtedly, taxes constitute a chapter aside in this
story. Because of administrative decentralization, the
different Indian states apply tariffs that in some cases overlap.
This issue is being dealt by the World Trade Organization
and by blocks of countries such as the European Union
and the very United States, who pressure
the Indian country to adapt its taxes policies to the demands
of the free market. As a consequence, taxes are expected to
drop in a short time.
To take into account: The first edition of the Indian
International Wine Fair will take place in Bombay,
from December 11th to 13th, 2008
June
27th, 2008
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