Liquor exports are on a high, raising a toast along with the Indian-made smartphones and electronics, as whiskey shipments grew 26 percent in the first half of this year.

A Moneycontrol analysis of commerce ministry data shows that India shipped spirits worth $78.5 million in the first six months of 2024. Blended whiskey, which accounts for half of the total whiskey exports, jumped 37 percent, and exporters are now are aiming to grow the market for Indian-made single malt. Premium whisky exports almost doubled to $6.3 million between January and June 2024 compared with the last year.

“More brands have been launched in India and are being pushed aggressively by companies,” said Vinod Giri, director-general of Brewers Association of India. He noted that the growth is likely to continue over the next few years, given the low base.

The growth rate in the whiskey segment has almost doubled in 2024, compared with the first six months in 2023, when exports expanded 12 percent over the previous year. “This pace is expected to continue for some time given the low base,” said Giri.

India’s whiskey exports in the first six months of the year have hovered on the $50-55 million mark for over a decade now. “Indian single malts are being acknowledged the world over. There is much greater awareness of Indian single malts. Thus, they are finding new markets,” Giri said.

Indian whiskeys are bagging awards in global competitions as well. Giri noted that this has helped India diversify and find markets across the globe.

The UAE, Netherlands and Ghana were the largest importers of Indian whiskey in the first six months of the year, while exports to the US surged 63.2 percent to $3.04 million.

“America is turning out to be a market for high-end Indian whiskeys. Traditionally, Middle East and Africa were major export markets. They were largely value products. America is a big market for high-end value products. Some of our products are also fetching value in Asia,” Giri pointed out.

Domestic demand has also gone up significantly in this period. Liquor revenues from excise duty now account for a larger share of the state’s own tax revenues.

Whiskey imports were up 23.8 percent to $106.3 million in the first six months of 2024.