India is one of the emerging consumer markets in the wine sector. With an average growth rate of 30% in the last decade, research and market forecasts expect India to continue to grow at the same rate over the next five years.
With these kinds of growth rates, European wine producers are seriously looking at these emerging markets.
According to the Associated Chambers of Commerce and Industry of India (Assocham), the current consumption of 5 million liters is likely to hit 9 million by 2010. The increase in wine consumption can be attributed to a lowering of taxes and easing of the bureaucracy imposed by Indian authorities on wine marketing and distribution as compared to that imposed on other types of spirits. The European influence on the lifestyles of young consumers has also contributed to a higher consumption of wine.
Today the main wine exporters to India are France with 50% of the market followed by Italy with 30%. ICA Expo 2010 is helping co-operatives become a major player in this fast growing market.
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