There’s a significant rise in wine drinkers in India. A Kotak report, states that the Indian wine industry will record a 12.5 per cent revenue CAGR in the financial year 23-28. Interestingly, Indians seem to have a special place in their hearts and their cabinets for wine, particularly imported wine. Infact India’s wine import from Spain has risen to a whopping 50x, recording $58 million in comparison to the $1 million in 2022-23.
India Increases Wine Imports From Spain By 50x; Indian Wine Drinkers Love Red Wine
A report by CNBC TV18 has brought to notice India’s growing affinity towards wine. Wine imported from across the globe during the period of April-October 2023 amounted to $58 million. This is a whopping 50x rise as compared to the mere $1 million in the whole of 2022-23. India is mostly importing red wine from Spain.
Spain is the third largest producer and exporter of wine across the globe. The nation exported $3.53 billion worth of wine in 2021. Also, in 2021, wine was the 12th most exported product in Spain. When it comes to the volume of wine produced, the country produces 30.7 million hectoliter (mhl) of wine. Spanish wines are largely exported to the United States, Germany and other parts of the world. Despite France being one of the largest wine-producing nations, it imported large volumes of wine from Spain. This led to dissent amongst wine producers in France.
When it comes to India, wine-drinkers are on the rise. Between the months of April and September, India witnessed a 200 per cent rise in wine imports as compared to the entire financial year of 2022-23. From $34.47 million to $74.11 million, wine imports rose significantly during the period of 2022-23.
With an increase in wine imports, many wine-producing countries are eyeing the Indian market. The Founder of Good Drop Wine Cellars, Ashwin Rodrigues stated that he is optimistic about India’s wine market. However, he warns that inexpensive wine entering the market may deter first-time consumers from drinking wines due to poor-quality products.
Also Read: 8 Restaurants In India With The Best & Most Extensive Wine Collection
Why Does The World Love Spanish Wine?
So, then question arises, what is so special about wines from Spain that India has increased its imports by 50x and even France, a wine-producing nation can’t help but be serenaded by it? Firstly, in Spain, grapes are planted at higher altitudes. The longer ripening season because of grapes growing at higher altitudes helps in making fresher and more balanced wines.
Another reason why Spanish wine is considered superior is the fact that the country grows over 400 varieties of grapes. But when it comes to making wines, only 20 varieties of grapes are used. This includes reds like Garnacha, Airén, Palomino, Macabeo, Tempranillo and Verdejo. Also, Spain has a rich wine-drinking culture and history, dating back to 3000 years.
Also Read: Ever Wondered Why Do You Get Headaches After Drinking Red Wine? Scientists May Have The Answer
Meanwhile, wine drinkers of India, have you ever tried Spanish wine? And do you think it is superior to other wines from across the world?
Cover Image Courtesy: Canva
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