What motivated you to invest in Indian Wine Market?
I am passionate about wine and love spending time in the vineyards, we love coming up with new ideas in viticulture and in wine making. That’s part of the passion, but ultimately it’s a business. Subsequently, after making many business trips to India, I decided to become an investor, that’s how we became a small shareholder in Grover originally. This product passion was driven mostly by two factors. Firstly, the wines I tried in the UK and secondly the rise of middle class in India, which is similar to wine story in China and Japan in 50s and 60s. In India, wine could be the widespread option for the middle class, this really prompted me for making investment decision in India. Gradually, in 2-3 years we increased our stake in Grover and today we almost have 50% share holdings.
How is the Indian Wine Market as compared to that of China and Japan today?
Comparison between Chinese and the Japanese market is the easiest. Indians in my view are much more westernised than the Chinese counterpart. And as compared to Japan as well, Indians are more accustomed to western world with greater familiarity to adapt western habits, but now Japan and China have changed a lot.
Today, Wine in India is growing faster than spirits, whisky and even beer, in the alcobev segment. Within next 15-20 years, wine will take over the normal habits of Indian middle class. Overwhelmingly, the main driver for growth of wine are women in India, especially the white and sparkling wine consumption has risen by women.
What sort of monumental effort will it take for the Indian Wine Industry to grow faster over this 15-20 year period?
This story is from the May 2021 edition of Ambrosia.
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This story is from the May 2021 edition of Ambrosia.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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