• Thursday, March 28, 2024

Business

Scotch whisky exports to India rise by nearly 20 per cent

(Representational image: iStock)

By: Eastern Eye Staff

SCOTCH whisky exports rose to a record high last year, thanks to booming sales in countries such as Taiwan and India.

While the whisky flow to Taiwan rose 22 per cent and to India 19.7 per cent last year, which helped offset concerns over tariffs and the uncertainty caused by Brexit.

Overseas sales of Scotch whisky rose more than 4 per cent to £4.9 billion in 2019.

The US was the top destination for Scotch, with exports rising 2.8 per cent to £1.1 billion, even as tariffs on single malts and some liqueurs were introduced in October.

The US had had imposed 25 per cent duties last year on a range of European products, including Scotch whisky in a retaliation for EU aircraft subsidies.

Scotch Whisky Association chief executive officer Karen Betts said some stakeholders were asking “whether they can build up alternative markets, which is not something that can be done quickly, and if not how their businesses will cope”.

A SWA report noted that the Asia-Pacific region accounted for around 25 per cent of Scotch whisky exports by value, and posted a 9.8 per cent gain to £1.24 billion over 2018, largely on strong gains in India and Japan.

India was among the top export destinations for Scotch whisky in 2018, too. Export value of the tipple had witnessed a 7.8 per cent growth to hit a record £4.70 billion.

Figures from Her Majesty’s Revenue and Customs said India was in the top 10 export destinations for whisky made in Scotland.

The Indian market was also among the top three in terms of volume, with 112.6 million bottles sold to India in 2018, behind France at 187.8 million bottles and the US at 136.8 million bottles.

In terms of value, India had registered a 34.1 per cent annual growth to £138.8 million pounds in 2018.

Overall, UK beverage exports to India climbed by 49.2 per cent to £179 million following robust demand in the last fiscal.

 

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