Latest news with #IndriWhiskey
Economic Times
a day ago
- Business
- Economic Times
Indian single malt exporters at disadvantage following high US tariffs
Synopsis Indian single malt exporters like Radico Khaitan and Piccadily Agro Industries face challenges in the US market due to a doubled tariff of 50%, increasing prices and creating a disadvantage against competitors. This tariff could limit new consumers from trying Indian single malts, impacting their growth in a competitive landscape dominated by local spirits and Scotch. Agencies Representational image Companies exporting Indian single malts to the US such as Radico Khaitan and Piccadily Agro Industries say the high tariff will increase prices there and put Indian whiskey at a disadvantage to those coming from the UK, local brands distilled there and other Indian alco-beverage companies have been trying to expand into the US for over a decade now, selling Indian single malts across retail outlets such as Costco, Tesco, Amazon, Total Wine & More among others. Madhu Kanna, head of international business at Piccadily Agro, the makers of Indri Whiskey, said the 50% tariff could place 'considerable pressure' on Indian single malts which are beginning to gain 'well-deserved recognition among US consumers."Kanna said a significant increase in consumer pricing may limit the ability of new consumers to savour Indian single malts and other premium spirits. 'In such a scenario, we would be navigating a highly competitive landscape, especially against locally produced spirits, scotch (which currently faces a 10% tariff), and other international spirits from countries with more favorable trade terms,' she 'beverage, spirits and vinegar' category imports to the US in calendar 2024 was $19.2 million, as per United Nations COMTRADE data. The US has doubled the tariff on India to 50%. Banga said the US is a strategic export market for Radico Khaitan with exports contributing around 10-11% of total sales. And for Piccadily Agro, exports contribution to the turnover was 4.6% in FY24. The FY25 numbers are still not declared. As per its Q4FY25 report, "Indri captured an established 55% share of Indian single malt export market"."For products like the Indian single malts there is, at least with some players, a shortage of the aged liquid. And therefore, they have to ration their supplies, not just in India but also internationally. They are not able to fulfill the demand they have because of the absence of the appropriate amount of liquid. Ideally it should be a wait and watch approach," he reason is that there is no point losing out on a market as important as the US when the industry is already low on supply. "Would you want your stock to be stuck on the shelf there because you are competing on price with the other players? I don't think you would want to do that. Hence, waiting and watch, is what we need to do,' he to Statista, the largest markets for Indian alcobev exports in FY25 were UAE, followed by Singapore and Tanzania. The Indian diaspora in the UAE drive the demand for Indian dark spirits such as rum and whiskey.
Time of India
a day ago
- Business
- Time of India
Indian single malt exporters at disadvantage following high US tariffs
Companies exporting Indian single malts to the US such as Radico Khaitan and Piccadily Agro Industries say the high tariff will increase prices there and put Indian whiskey at a disadvantage to those coming from the UK, local brands distilled there and other markets. The Indian alco-beverage companies have been trying to expand into the US for over a decade now, selling Indian single malts across retail outlets such as Costco, Tesco, Amazon, Total Wine & More among others. Madhu Kanna, head of international business at Piccadily Agro, the makers of Indri Whiskey , said the 50% tariff could place 'considerable pressure' on Indian single malts which are beginning to gain 'well-deserved recognition among US consumers." Kanna said a significant increase in consumer pricing may limit the ability of new consumers to savour Indian single malts and other premium spirits. 'In such a scenario, we would be navigating a highly competitive landscape, especially against locally produced spirits, scotch (which currently faces a 10% tariff), and other international spirits from countries with more favorable trade terms,' she said. Indian 'beverage, spirits and vinegar' category imports to the US in calendar 2024 was $19.2 million, as per United Nations COMTRADE data. The US has doubled the tariff on India to 50%. Banga said the US is a strategic export market for Radico Khaitan with exports contributing around 10-11% of total sales. And for Piccadily Agro, exports contribution to the turnover was 4.6% in FY24. The FY25 numbers are still not declared. As per its Q4FY25 report, "Indri captured an established 55% share of Indian single malt export market". "For products like the Indian single malts there is, at least with some players, a shortage of the aged liquid. And therefore, they have to ration their supplies, not just in India but also internationally. They are not able to fulfill the demand they have because of the absence of the appropriate amount of liquid. Ideally it should be a wait and watch approach," he said. Menon's reason is that there is no point losing out on a market as important as the US when the industry is already low on supply. "Would you want your stock to be stuck on the shelf there because you are competing on price with the other players? I don't think you would want to do that. Hence, waiting and watch, is what we need to do,' he said. According to Statista, the largest markets for Indian alcobev exports in FY25 were UAE, followed by Singapore and Tanzania. The Indian diaspora in the UAE drive the demand for Indian dark spirits such as rum and whiskey.
Time of India
26-05-2025
- Time of India
Man loses money in online liquor delivery scam in Gurgaon
Image used is for representational purposes only GURGAON: A 43-year-old resident of Parsvnath Exotica, Golf Course Road, Gurugram, Haryana, fell victim to an online scam, losing Rs 2700 whilst attempting to purchase a Single Malt whiskey for home delivery during a national holiday. The Gurgaon Cyber Crime police registered a case on Saturday against an unknown perpetrator, following the incident that occurred on January 26, 2024. The fraud took place when the victim searched for a local liquor warehouse on Google. The victim in his police complaint said, "I found the website offering home delivery of liquor. The number for home delivery was provided as 919770118732. I talked to the person, following which I was asked to contact the number 63527 20342 on WhatsApp with the order details. I gave the order of a bottle of Indri Whiskey and made a payment of Rs 2700 from my Google Pay." Despite sending payment confirmation via WhatsApp, the victim received neither a response nor the ordered bottle. Speaking to TOI, he admitted this was his first attempt at ordering liquor online. "I always buy liquor from the store, but since it was a govt holiday and I wanted to check if I could get late evening delivery of whiskey online, I tried my luck for the first time and got trapped. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Thị trường có dấu hiệu suy thoái không? IC Markets Đăng ký Undo People should never buy liquor online and rather should visit the shop instead to avoid getting cheated," the victim stated, requesting anonymity. The Gurgaon Cyber Crime police have registered a case against the unidentified fraudster under section 318(4) (cheating and inducing the delivery of property or causing the making, altering, or destruction of a valuable security) of BNS.
