INDIA: UB Group forms wine arm - report
India's UB Group has reportedly set up its first wine subsidiary in the state of Maharashtra, the country's wine heartland.
UB has formed United Vintners, which will be responsible for marketing and distributing wine throughout the state, Indian newspaper The Economic Times said yesterday (16 January).
Officials at UB in Bangalore could not be reached for comment.
The company's move is the latest sign of confidence in India's wine market, where consumption is rising by around 30% a year.
Grover Vineyards, one of the three largest wine producers in India, is also hoping to cement its position in the market with a deal with the country's top wine importer, Brindco.
Grover and Brindco are hoping to conclude an agreement by the end of the month.
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