India has overtaken France to become the UK’s largest market of Scotch whisky in terms of volume, with a 60 per cent hike in imports in 2022 over the previous year. The Scotch Whisky Association (SWA) revealed that India imported 219 million 70cl bottles of Scotch compared to France’s 205 million last year, representing a growth of more than 200 per cent in the past decade. Despite the growth, Scotch whisky still only comprises 2 per cent of the Indian whisky market due to high tariffs. A UK-India free trade agreement (FTA) which eases the 150 per cent tariff burden on Scotch whisky in India could boost market access for Scotland’s whisky companies and result in an additional £1 billion of growth over the next five years. In terms of value, the Indian market for Scotch exports comes in at fifth worth £282 million, up 93 per cent in 2021. The total export value of Scotch whisky was up 37 per cent by value to £6.2 billion with the US holding on to its topmost position as the largest market by value at £1,053 million.
Today: December 6, 2023