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Wine sales in India down 20%, but LT prospects remain good

June 3, 2009

Analysis of:Wine in India | www.gryphonrands.com

* Sales of wines in India are estimated to have reduced by 20% to 800,000 cases YE Mar-09 du to reduced offtake following global recession and higher taxes after 10 years of 15% growth pa * This is a temporary phenomenon as per capita wine consumption is a miniscule 9 ml, and volumes are forecast to reach 10 million cass in 10 years and 50 million cases in 20. * With a stable new government in place, this is a good time to think of investing in this market - but enterants must have a long-term perspective and be willing to invest in building distribution and brands.

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