Wine Industry Profile-India

INDUSTRY PROFILE
Wine in
India
Reference Code: 0102-0800

Publication Date: May 2010
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India - Wine 0102 - 0800 - 2009
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EXECUTIVE SUMMARY
EXECUTIVE SUMMARY
Market value
The Indian wine market grew by 18.8% in 2009 to reach a value of $254.2 million.
Market value forecast
In 2014, the Indian wine market is forecast to have a value of $602.6 million, an increase of 137.1% since
2009.
Market volume
The Indian wine market grew by 18.2% in 2009 to reach a volume of 10.4 million liters.
Market volume forecast
In 2014, the Indian wine market is forecast to have a volume of 24.4 million liters, an increase of 134.6%
since 2009.
Market segmentation I
Still wine is the largest segment of the wine market in India, accounting for 79.8% of the market's total
value.
Market segmentation II
India accounts for 1.7% of the Asia-Pacific wine market value.
Market share
Indage Group is the leading player in the Indian wine market, generating a 58.1% share of the market's
volume.
Market rivalry
The Indian market for wine is concentrated, with top three players holding a market share of 85.3% by
volume. The domestic Indian market has traditionally been dominated by beer and spirits. However, with
a growing population and the increasing popularity of wine, the market has seen robust growth over
recent years, which has led to a lower level of rivalry. The sale of alcohol in India is restricted to license
off- and on-trade outlets and, of these, there are only a limited number that sell wine. Backward
integration is common, with most winemakers owning or leasing vineyards, although large companies
often need to source grapes from third-party growers. Alcoholic beverages in general are consumed in
low quantities in India, and, although the market for wine is growing fast, it is yet to become an accepted
part of the country’s culture. This, together with the high import duties applicable, may make market entry
difficult for non-Indian companies.
India - Wine 0102 - 0800 - 2009

CONTENTS
TABLE OF CONTENTS
EXECUTIVE SUMMARY 2
MARKET OVERVIEW 7
Market definition 7
Research highlights 8
Market analysis 9
MARKET VALUE 10
MARKET VOLUME 11
MARKET SEGMENTATION I 12
MARKET SEGMENTATION II 13
MARKET SHARE 14
COMPETITIVE LANDSCAPE 15
LEADING COMPANIES 17
Grover Vineyards 17
Nashik Vintners Pvt. Ltd. 18
Indage Vintners Limited 19
MARKET DISTRIBUTION 23
MARKET FORECASTS 24
Market value forecast 24
Market volume forecast 25
MACROECONOMIC INDICATORS 26
APPENDIX 28
Methodology 28
Industry associations 29
Related Datamonitor research 29
Disclaimer 30
ABOUT DATAMONITOR 31
Premium Reports 31
Summary Reports 31
India - Wine 0102 - 0800 - 2009

CONTENTS
Datamonitor consulting 31
India - Wine 0102 - 0800 - 2009

CONTENTS
LIST OF TABLES
Table 1: India wine market value: $ million, 2005–09(e) 10
Table 2: India wine market volume: million liters, 2005–09(e) 11

Table 3: India wine market segmentation I:% share, by value, 2009(e) 12
Table 4: India wine market segmentation II: % share, by value, 2009(e) 13
Table 5: India wine market share: % share, by volume, 2009(e) 14

Table 6: Grover Vineyards: key facts 17
Table 7: Nashik Vintners Pvt. Ltd.: key facts 18
Table 8: Indage Vintners Limited: key facts 19

Table 9: Indage Vintners Limited: key financials ($) 20
Table 10: Indage Vintners Limited: key financials (INR) 20
Table 11: Indage Vintners Limited: key financial ratios 21
Table 12: India wine market distribution: % share, by volume, 2009(e) 23
Table 13: India wine market value forecast: $ million, 2009–14 24
Table 14: India wine market volume forecast: million liters, 2009–14 25
Table 15: India size of population (million), 2005–09 26
Table 16: India gdp (constant 2000 prices, $ billion), 2005–09 26
Table 17: India gdp (current prices, $ billion), 2005–09 26

Table 18: India inflation, 2005–09 27
Table 19: India consumer price index (absolute), 2005–09 27
Table 20: India exchange rate, 2005–09 27
India - Wine 0102 - 0800 - 2009

CONTENTS
LIST OF FIGURES
Figure 1: India wine market value: $ million, 2005–09(e) 10
Figure 2: India wine market volume: million liters, 2005–09(e) 11

Figure 3: India wine market segmentation I:% share, by value, 2009(e) 12
Figure 4: India wine market segmentation II: % share, by value, 2009(e) 13
Figure 5: India wine market share: % share, by volume, 2009(e) 14

Figure 6: Indage Vintners Limited: revenues & profitability 21
Figure 7: Indage Vintners Limited: assets & liabilities 22
Figure 8: India wine market distribution: % share, by volume, 2009(e) 23

Figure 9: India wine market value forecast: $ million, 2009–14 24
Figure 10: India wine market volume forecast: million liters, 2009–14 25
India - Wine 0102 - 0800 - 2009

MARKET OVERVIEW
MARKET OVERVIEW
Market definition
The wine market consists of retail sale of champagne, fortified wine, sparkling wine and still wine. The
market is valued according to retail selling price (RSP) and includes any applicable taxes. Any currency
conversions used in the creation of this report have been calculated using constant 2009 annual average
exchange rates.
For the purpose of this report, Asia-Pacific comprises Australia, China, Japan, India, Singapore, South
Korea and Taiwan.
India - Wine 0102 - 0800 - 2009

MARKET OVERVIEW
Research highlights
The Indian wine market generated total revenues of $254.2 million in 2009, representing a compound
annual growth rate (CAGR) of 20.4% for the period spanning 2005-2009.
Still wine sales proved the most lucrative for the Indian wine market in 2009, generating total revenues of
$203 million, equivalent to 79.8% of the market’s overall value.
The performance of the market is forecast to decelerate slightly, with an anticipated CAGR of 18.8% for
the five-year period 2009-2014, which will lead the market to a value of $602.6 million by the end of 2014.
India - Wine 0102 - 0800 - 2009

MARKET OVERVIEW
Market analysis
The Indian wine market grew at a double digit rate between 2005 and 2009, driven by strong sales growth
in the still wine category. The market is expected to follow similar trend, albeit at a slightly lower rate, in
the forthcoming five years.
The Indian wine market generated total revenues of $254.2 million in 2009, representing a compound
annual growth rate (CAGR) of 20.4% for the period spanning 2005-2009. In comparison, the Chinese
market grew at a CAGR of 5.3% while the Japanese market declined at a compound annual rate of
change (CARC) of -0.4%, over the same period, to reach respective values of $7.2 billion and $4.9 billion
in 2009.
Market consumption volumes increased with a CAGR of 18.4% for the period 2005-2009, to reach a total
of 10.4 million litres in 2009. The market's volume is expected to rise to 24.4 million litres by the end of
2014, representing a CAGR of 18.6% for the 2009-2014 period.
Still wine sales proved the most lucrative for the Indian wine market in 2009, generating total revenues of
$203 million, equivalent to 79.8% of the market’s overall value. In comparison, sales of sparkling wine
generated revenues of $24.5 million in 2009, equating to 9.6% of the market's aggregate revenues.
The performance of the market is forecast to decelerate slightly, with an anticipated CAGR of 18.8% for
the five-year period 2009-2014, which will lead the market to a value of $602.6 million by the end of 2014.
Comparatively, the Chinese and Japanese markets will grow with CAGR of 4.7% and 0.2%, respectively,
over the same period, to reach respective values of $9 billion and $5 billion in 2014.
India - Wine 0102 - 0800 - 2009

MARKET VALUE
MARKET VALUE
The Indian wine market grew by 18.8% in 2009 to reach a value of $254.2 million.
The compound annual growth rate of the market in the period 2005–09 was 20.4%.
Table 1: India wine market value: $ million, 2005–09(e)
Year $ million INR million € million % Growth

2005 121.0 5,912.0 87.0
2006 148.4 7,246.9 106.7 22.6
2007 179.8 8,784.0 129.3 21.2
2008 213.9 10,449.0 153.8 19.0
2009(e) 254.2 12,418.6 182.8 18.8
CAGR: 2005–09 20.4%
Source: Datamonitor DATAMONITOR
Figure 1: India wine market value: $ million, 2005–09(e)
India - Wine 0102 - 0800 - 2009

MARKET VOLUME
MARKET VOLUME
The Indian wine market grew by 18.2% in 2009 to reach a volume of 10.4 million liters.
The compound annual growth rate of the market in the period 2005–09 was 18.4%.
Table 2: India wine market volume: million liters, 2005–09(e)
Year million liters % Growth

2005 5.3
2006 6.2 17.0
2007 7.5 21.0
2008 8.8 17.3
2009(e) 10.4 18.2
CAGR: 2005–09 18.4%
Figure 2: India wine market volume: million liters, 2005–09(e)
India - Wine 0102 - 0800 - 2009

MARKET SEGMENTATION I
MARKET SEGMENTATION I
Still wine is the largest segment of the wine market in India, accounting for 79.8% of the market's total
value.
The sparkling wine segment accounts for a further 9.6% of the market.
Table 3: India wine market segmentation I:% share, by value, 2009(e)
Category % Share
Still wine 79.8%
Sparkling wine 9.6%
Champagne 7.8%
Fortified wine 2.7%
Total 100%
Figure 3: India wine market segmentation I:% share, by value, 2009(e)
India - Wine 0102 - 0800 - 2009

MARKET SEGMENTATION II
MARKET SEGMENTATION II
India accounts for 1.7% of the Asia-Pacific wine market value.
China accounts for a further 35.6% of the Asia-Pacific market.
Table 4: India wine market segmentation II: % share, by value, 2009(e)
Category % Share
China 35.6%
Japan 21.5%
South Korea 3.8%
India 1.7%
Rest of Asia-Pacific 37.3%
Total 100%
Figure 4: India wine market segmentation II: % share, by value, 2009(e)
India - Wine 0102 - 0800 - 2009

MARKET SHARE
MARKET SHARE
Indage Group is the leading player in the Indian wine market, generating a 58.1% share of the market's
volume.
Nashik Vintners Pvt. Ltd. accounts for a further 19% of the market.
Table 5: India wine market share: % share, by volume, 2009(e)
Company % Share
Indage Group 58.1%
Nashik Vintners Pvt. Ltd. 19.0%
Grover Vineyards Ltd. 8.2%
Others 14.7%
Total 100%
Figure 5: India wine market share: % share, by volume, 2009(e)
India - Wine 0102 - 0800 - 2009

COMPETITIVE LANDSCAPE
The wine market will be analyzed taking manufacturers of wine as players. The key buyers will be taken
as retail and on-trade companies, and independent grape growers and other raw material producers as
the key suppliers.
The Indian market for wine is concentrated, with top three players holding a market share of 85.3% by
volume. The domestic Indian market has traditionally been dominated by beer and spirits. However, with
a growing population and the increasing popularity of wine, the market has seen robust growth over
recent years, which has led to a lower level of rivalry. The sale of alcohol in India is restricted to license
off- and on-trade outlets and, of these, there are only a limited number that sell wine. Backward
integration is common, with most winemakers owning or leasing vineyards, although large companies
often need to source grapes from third-party growers. Alcoholic beverages in general are consumed in
low quantities in India, and, although the market for wine is growing fast, it is yet to become an accepted
part of the country’s culture. This, together with the high import duties applicable, may make market entry
difficult for non-Indian companies.
In the Indian wine market, on-trade companies such as clubs and restaurants account for 61.4% of total
market distribution by volume. Retailers and other channels account for the remaining 38.6% of total
market distribution. In India, the food and beverages retail market is fragmented, which reduces buyer
power. Wine producers can differentiate their products quite strongly, for example by the overall segment
(such as still or sparkling) and also by region of origin, grape variety, style, and so on. Furthermore, major
buyers generally need to offer a wide range of wines for their own customers, which fact tends to weaken
the buyer power. However, switching costs for buyers are not particularly high, which increases buyer
power in all markets. Furthermore, producers and buyers operate in distinct businesses, with very little
likelihood of on-trade businesses or retailers integrating backwards. Overall, buyer power is assessed as
moderate.
The main inputs for wine producers in the Indian market are grapes and bottles. Traditionally, wine
makers operated vertically-integrated businesses; harvesting and crushing grapes from their own
vineyards, then making wine from them, and then bottling it. This model is still followed by large
companies to some extent. However, the scale of major players also need to source grapes and grape
juice from independent growers. In some cases, the company-owned vineyards are used for producing
premium wines, while third-party grapes are used for producing lower-priced products. The independents
are numerous, and include some fairly small operations, weakening supplier power. However,
independent grape growers can find alternative markets - for example, grapes are a raw material for fruit
sugar production - and integrate forward into winemaking. These factors boost supplier power. Raw
material quality is highly important in this business. The end product is strongly influenced by the nature
of the grapes used. Overall, supplier power is no more than moderate.
Entry to the Indian wine market may be achieved by starting a new company, by diversifying an existing
company's operations into winemaking or, in the case of foreign producers, by beginning to export to the
India - Wine 0102 - 0800 - 2009

country. The domestic wine industry in India is still at a nascent stage, but imported wine nevertheless
represented less than a quarter of total wine sales in 2006. The obstacles for foreign wine producers
attempting to enter the market are the strength of the domestic players' position in the market, and a
tough and often confusing regulatory regime that makes imports expensive by comparison. In early 2007,
the Government of India removed additional custom duties on imported wines and spirits. Additional
customs duties on imported liquor imposed by India ranged between 20%-150%. This was over and
above the basic customs duty of 150% allowed by the WTO. The multiple duties took the overall taxes on
wine and spirits up to 550% in some cases. However, India's basic import duties on wines were increased
to 150%. Despite high import duties, demand for foreign wines is strong, and France is the leading trade
partner. As high quality wines can be sold at premium prices, it is possible to enter the market on a small
scale, recouping investment in vines, production equipment, etc by adding a good margin to the price of
the end-product. The larger companies, however, produce not only premium wines but also mass-market
products. Here, margins may be much lower. An additional entry barrier is the need to access good
distribution channels. It is unusual for wineries to integrate forward into selling to final consumers. Overall,
there is a moderate likelihood of new entrants.
The main substitutes for wine are other alcoholic beverages, such as spirits and beer. From the point of
view of retailers or on-trade businesses, the switching costs are not high, and the per-unit-volume prices
may be higher (for spirits) or lower (for beers). It is also difficult to be conclusive about the benefits of the
alternatives: for example, not only beer but also champagne and white wine are optimally stored in chilled
cabinets, which makes them more expensive to store; more concentrated forms of alcohol (spirits) may
offer better returns on shelf space than higher-volume wines and beers. Some on-trade establishments,
such as restaurants, would find it difficult to operate without selling wine; others, for example pubs and
clubs targeting particular demographics, are strongly focused on beers and spirits. From the point of view
of the consumer, there are some differences between the ways different alcoholic beverages are used
(champagne as a signifier of celebration, and so on), but many consumption decisions are a matter of
personal taste – this makes wine vulnerable to the threat of other alcoholic beverages. Overall, there is a
strong threat from substitutes.
The Indian wine market is highly concentrated, with the top three players holding an aggregate share of
around 85.3% of the total market by volume. Revenue growth in the Indian market has been high which
tends to weaken the competition. Factors that tend to intensify rivalry are the wide range of wines
available to consumers and the low switching costs involved. Major players may offer premium wines, but
much of their business involves mass-market products. This implies high fixed costs, because of the need
to operate large winemaking plants. At the same time, the prices that can be obtained for these products
may be forced down by large retail chains. Overall, rivalry is assessed as moderate.
India - Wine 0102 - 0800 - 2009

LEADING COMPANIES
LEADING COMPANIES
Grover Vineyards
Table 6: Grover Vineyards: key facts
Head office: Anand Bhavan, 348, Dr. DN Road, Mumbai 400001, IND
Telephone: 91 22 2204 3885
Fax: 91 22 2287 4021
Local office:
Website: www.groverwines.com
Financial year-end:
Source: company website DATAMONITOR
Grover Vineyards produces and markets premium wines in India. The company’s portfolio comprises
brands such as La Reserve, Cabernet Shiraz, Sauvignon Blanc, Viognior Clairette, Shiraz Rose, Sante
Chenin Blanc, and Sante Shiraz. It operates its wine estate in Nandi Hills in India and exports 250,000
bottles of wine every year. Grover Vineyards is headquartered in Mumbai, India.
Key Metrics
As this company is privately held, financial information is not available.
India - Wine 0102 - 0800 - 2009

LEADING COMPANIES
Nashik Vintners Pvt. Ltd.
Table 7: Nashik Vintners Pvt. Ltd.: key facts
Head office: 1 Matulya Centre C, Senapati Bapat Marg, Lower Parel, Mumbai
400013, IND
Telephone: 91 22 6721 1900
Fax: 91 22 2492 6064
Local office:
Website: www.sulawines.com
Financial year-end:
Nashik Vintners is the holding company for Sula Vineyards. The company produces and markets
premium wine products. It owns and operates vineyards in Nashik and Dindori estates located in India.
The company markets its products in the US, the UK, Italy, France, Canada, Finland, Sweden, Germany,
Japan, Singapore and Middle East Asia. It is headquartered in Mumbai, India.
The company offers a wide range of wines that include red wines, white wines, rose wines, sparkling
wines, and dessert wines. It markets its products under Brut, Seco, Madera Rose, Sula Blush Zinfandel,
Dia, and Viognier brand names.
Nashik Vintners also imports wines from Argentina, Australia, France, Italy, Japan, New Zealand,
Portugal, and South Africa. Some of the imported brands include Single Varietal Malbec, Astica Cabernet,
Hardys, Heidsieck Monopole, and Ruffino.
In 2008, the company launched a wide range of products such as Dia, an Asti Spumante-style low alcohol
wine; and Dindori Reserve Shiraz, a luxurious and premium red wine.
Key Metrics
As this company is privately held, financial information is not available.
India - Wine 0102 - 0800 - 2009

LEADING COMPANIES
Indage Vintners Limited
Table 8: Indage Vintners Limited: key facts
Head office: Indage House, 82 Dr. Annie Besant Road, Worli, Mumbai, 400018,
Maharashtra, IND
Telephone: 91 22 6654 7933
Fax: 91 22 6654 7933
Local office:
Website: www.indagevintners.com
Financial year-end: March
Ticker: 522059
Stock exchange: Bombay
Indage Vintners (formerly known as Champagne Indage Limited) is engaged in the production,
distribution and marketing of wines, liquors and alcoholic beverages. The company produces still red
wine, white wine and sparkling wine. The company, through its subsidiaries, exports its products to over
69 countries across the globe. The company is headquartered in Mumbai, India and employs 600 people.
The company manufactures alcoholic beverages with a capacity of 15 million liters at Narayangaon with a
bottling capacity of 15,000 bottles per hour and multiple manufacturing facilities across India.
The company offers its products under the brand names of Chantilli Shiraz, Chantilli Merlot, Chantilli
Chenin Blanc, Chantilli Chardonnay, Chantilli Cabernet Sauvignon, Indage Vineyards, Mist of Sahyadri
Syrah, Omar Khayyam, Marquise De Pompadour, IVY Brut, and Tiger Hill.
The company's subsidiary, Indage UK, is engaged in integrated wine supply chain management
business. It has a bottling plant with a capacity of 3.5 million cases and, operates as a distributor to more
than 4,000 outlets in the UK. The company’s other subsidiaries include Seabuckthorn Indage, Indage
Holding, and Thatchi Wines.
In 2007, Indage Vintners acquired about 52.63% of shareholding interest in Seabuckthorn Indage.
In March 2008, Indage Vintners acquired Loxton Winery. The company acquired Darlington Wines, a
supplier of wines in UK, in May 2008. In the same month, Indage Vintners, through its Australian
subsidiary Thatchi Wines, acquired Australia’s VineCrest, a premium boutique winery at the Barossa
valley.
In November 2008, the company changed its name from Champagne Indage to Indage Vintners Limited.
India - Wine 0102 - 0800 - 2009

LEADING COMPANIES
Key Metrics
Indage Vintners generated revenues of $37.2 million in the financial year (FY) ended March 2008, an
increase of 46.5% over 2007. The company's net income totaled $8.2 million in FY2008, an increase of
70.8% over 2007.
Table 9: Indage Vintners Limited: key financials ($)
$ million 2004 2005 2006 2007 2008

Revenues 4.8 7.4 14.0 25.4 37.2
Net income (loss) 0.6 1.1 2.2 4.8 8.2
Total assets 12.7 19.8 32.1 66.8 112.7
Total liabilities 6.8 13.4 13.8 29.1 52.8
Source: company filings DATAMONITOR
Table 10: Indage Vintners Limited: key financials (INR)
INR million 2004 2005 2006 2007 2008

Revenues 235.1 362.0 685.9 1,240.1 1,817.6
Net income (loss) 29.4 54.9 108.0 233.4 399.0
Total assets 618.8 965.8 1,570.0 3,262.3 5,507.6
Total liabilities 333.3 652.2 675.7 1,423.1 2,578.8
India - Wine 0102 - 0800 - 2009

LEADING COMPANIES
Table 11: Indage Vintners Limited: key financial ratios
Ratio 2004 2005 2006 2007 2008

Profit margin 12.5% 15.2% 15.7% 18.8% 22.0%
Revenue growth - 54.0% 89.5% 80.8% 46.6%
Asset growth - 56.1% 62.6% 107.8% 68.8%
Liabilities growth - 95.7% 3.6% 110.6% 81.2%
Debt/asset ratio 53.9% 67.5% 43.0% 43.6% 46.8%
Return on assets 4.7% 6.9% 8.5% 9.7% 9.1%
Figure 6: Indage Vintners Limited: revenues & profitability
India - Wine 0102 - 0800 - 2009

LEADING COMPANIES
Figure 7: Indage Vintners Limited: assets & liabilities
India - Wine 0102 - 0800 - 2009

DISTRIBUTION
MARKET DISTRIBUTION
On-trade form the leading distribution channel in the Indian wine market, accounting for a 61.4% share of
the total market's volume.
Specialist Retailers accounts for a further 35.6% of the market.
Table 12: India wine market distribution: % share, by volume, 2009(e)
Channel % Share
On-trade 61.4%
Specialist Retailers 35.6%
Supermarkets / hypermarkets 3.0%
Others 0.0%
Total 100%
Figure 8: India wine market distribution: % share, by volume, 2009(e)
India - Wine 0102 - 0800 - 2009

MARKET FORECASTS
MARKET FORECASTS
Market value forecast
In 2014, the Indian wine market is forecast to have a value of $602.6 million, an increase of 137.1% since
2009.
The compound annual growth rate of the market in the period 2009–14 is predicted to be 18.8%.
Table 13: India wine market value forecast: $ million, 2009–14
Year $ million INR million € million % Growth

2009 254.2 12,418.6 182.8 18.8%
2010 303.3 14,815.6 218.1 19.3%
2011 364.0 17,781.5 261.8 20.0%
2012 439.3 21,459.2 315.9 20.7%
2013 532.9 26,032.3 383.2 21.3%
2014 602.6 29,435.7 433.3 13.1%
CAGR: 2009–14 18.8%
Figure 9: India wine market value forecast: $ million, 2009–14
India - Wine 0102 - 0800 - 2009

MARKET FORECASTS
Market volume forecast

In 2014, the Indian wine market is forecast to have a volume of 24.4 million liters, an increase of 134.6%
since 2009.
The compound annual growth rate of the market in the period 2009–14 is predicted to be 18.6%.
Table 14: India wine market volume forecast: million liters, 2009–14
Year million liters % Growth

2009 10.4 18.2%
2010 12.4 19.2%
2011 14.8 19.4%
2012 17.8 20.3%
2013 21.5 20.8%
2014 24.4 13.5%
CAGR: 2009–14 18.6%
Figure 10: India wine market volume forecast: million liters, 2009–14
India - Wine 0102 - 0800 - 2009

MACROECONOMIC INDICATORS
Table 15: India size of population (million), 2005–09
Year Population (million) % Growth

2005 1,091.0 1.6%
2006 1,107.6 1.5%
2007 1,124.1 1.5%
2008 1,140.6 1.5%
2009(e) 1,156.9 1.4%
Table 16: India gdp (constant 2000 prices, $ billion), 2005–09
Year Constant 2000 Prices, $ billion % Growth

2005 648.8 9.1%
2006 711.8 9.7%
2007 776.8 9.1%
2008 832.5 7.2%
2009(e) 880.8 5.8%
Table 17: India gdp (current prices, $ billion), 2005–09
Year Current Prices, $ billion % Growth

2005 813.3 17.0%
2006 911.4 12.1%
2007 1,142.0 25.3%
2008 1,222.6 7.1%
2009(e) 1,238.7 1.3%
India - Wine 0102 - 0800 - 2009

Table 18: India inflation, 2005–09
Year Inflation Rate (%)

2005 3.3%
2006 6.9%
2007 8.1%
2008 8.0%
2009(e) 9.8%
Table 19: India consumer price index (absolute), 2005–09
Year Consumer Price Index (2000 = % Growth

100)
2005 115.6 3.3%
2006 123.6 6.9%
2007 133.6 8.1%
2008 144.3 8.0%
2009(e) 158.4 9.8%
Table 20: India exchange rate, 2005–09
Year Exchange rate ($/Rs.) Exchange rate (€/Rs.)

2005 44.1154 54.8337
2006 45.3188 56.8596
2007 41.3570 56.5898
2008 43.8145 64.1115
2009 48.8500 67.9264
India - Wine 0102 - 0800 - 2009

APPENDIX
APPENDIX
Methodology
Datamonitor Industry Profiles draw on extensive primary and secondary research, all aggregated,
analyzed, cross-checked and presented in a consistent and accessible style.
Review of in-house databases – Created using 250,000+ industry interviews and consumer surveys
and supported by analysis from industry experts using highly complex modeling & forecasting tools,
Datamonitor’s in-house databases provide the foundation for all related industry profiles
Preparatory research – We also maintain extensive in-house databases of news, analyst

commentary, company profiles and macroeconomic & demographic information, which enable our
researchers to build an accurate market overview
Definitions – Market definitions are standardized to allow comparison from country to country. The
parameters of each definition are carefully reviewed at the start of the research process to ensure they
match the requirements of both the market and our clients
Extensive secondary research activities ensure we are always fully up-to-date with the latest
industry events and trends
Datamonitor aggregates and analyzes a number of secondary information sources, including:

- National/Governmental statistics
- International data (official international sources)
- National and International trade associations
- Broker and analyst reports
- Company Annual Reports
- Business information libraries and databases
Modeling & forecasting tools – Datamonitor has developed powerful tools that allow quantitative
and qualitative data to be combined with related macroeconomic and demographic drivers to create
market models and forecasts, which can then be refined according to specific competitive, regulatory
and demand-related factors
Continuous quality control ensures that our processes and profiles remain focused, accurate and
up-to-date
India - Wine 0102 - 0800 - 2009

APPENDIX
Industry associations
All India Distillers Association
805, Sidhartha, 96, Nehru Place New Delhi- 110019, India
Tel.: 91 11 643 2743
Fax: 91 11 6476628
www.aidaindia.org
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India - Wine 0102 - 0800 - 2009

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Reference Code: 0102-0800

India - Wine 0102 - 0800 - 2009

© Datamonitor. This profile is a licensed product and is not to be photocopied Page 1

India - Wine 0102 - 0800 - 2009

© Datamonitor. This profile is a licensed product and is not to be photocopied Page 2

Nashik Vintners Pvt. Ltd. 18

Indage Vintners Limited 19

Market value forecast 24

Market volume forecast 25

Related Datamonitor research 29

India - Wine 0102 - 0800 - 2009

© Datamonitor. This profile is a licensed product and is not to be photocopied Page 3

India - Wine 0102 - 0800 - 2009

© Datamonitor. This profile is a licensed product and is not to be photocopied Page 4

Table 2: India wine market volume: million liters, 2005–09(e) 11

Table 4: India wine market segmentation II: % share, by value, 2009(e) 13

Table 5: India wine market share: % share, by volume, 2009(e) 14

Table 7: Nashik Vintners Pvt. Ltd.: key facts 18

Table 8: Indage Vintners Limited: key facts 19

Table 10: Indage Vintners Limited: key financials (INR) 20

Table 11: Indage Vintners Limited: key financial ratios 21

Table 12: India wine market distribution: % share, by volume, 2009(e) 23

Table 13: India wine market value forecast: $ million, 2009–14 24

Table 16: India gdp (constant 2000 prices, $ billion), 2005–09 26

Table 17: India gdp (current prices, $ billion), 2005–09 26

Table 19: India consumer price index (absolute), 2005–09 27

Table 20: India exchange rate, 2005–09 27

India - Wine 0102 - 0800 - 2009

© Datamonitor. This profile is a licensed product and is not to be photocopied Page 5

Figure 2: India wine market volume: million liters, 2005–09(e) 11

Figure 4: India wine market segmentation II: % share, by value, 2009(e) 13

Figure 5: India wine market share: % share, by volume, 2009(e) 14

Figure 7: Indage Vintners Limited: assets & liabilities 22

Figure 8: India wine market distribution: % share, by volume, 2009(e) 23

India - Wine 0102 - 0800 - 2009

© Datamonitor. This profile is a licensed product and is not to be photocopied Page 6

India - Wine 0102 - 0800 - 2009

© Datamonitor. This profile is a licensed product and is not to be photocopied Page 7

India - Wine 0102 - 0800 - 2009

© Datamonitor. This profile is a licensed product and is not to be photocopied Page 8

India - Wine 0102 - 0800 - 2009

© Datamonitor. This profile is a licensed product and is not to be photocopied Page 9

Table 1: India wine market value: $ million, 2005–09(e)

Year $ million INR million € million % Growth

CAGR: 2005–09 20.4%

Source: Datamonitor DATAMONITOR

Figure 1: India wine market value: $ million, 2005–09(e)

Source: Datamonitor DATAMONITOR

India - Wine 0102 - 0800 - 2009

© Datamonitor. This profile is a licensed product and is not to be photocopied Page 10

Table 2: India wine market volume: million liters, 2005–09(e)

Year million liters % Growth

CAGR: 2005–09 18.4%

Source: Datamonitor DATAMONITOR

Figure 2: India wine market volume: million liters, 2005–09(e)

Source: Datamonitor DATAMONITOR

India - Wine 0102 - 0800 - 2009

© Datamonitor. This profile is a licensed product and is not to be photocopied Page 11

Table 3: India wine market segmentation I:% share, by value, 2009(e)

Source: Datamonitor DATAMONITOR

Figure 3: India wine market segmentation I:% share, by value, 2009(e)

Source: Datamonitor DATAMONITOR