Blog: India carries on regardless
Olly Wehring | 30 July 2009
Looking at the United Spirits first quarter sales figures today (30 July), you could be forgiven for wondering what all the fuss over the economic downturn is about.
Volume sales are up 17%, pretty much as they were for most of last year, while net sales revenue is up 22%.
United Spirits president Vijay Rekhi told just-drinks in April that the Indian spirits market has seen little of the fallout from the global economic meltdown.
Beer, too, appears to be in healthy shape. United Spirits sister group, United Breweries, this week posted a 17% rise in first quarter beer sales, although there is speculation that main rival SABMiller has seen growth slow in recent months.
Only in India's fledgling wine market do there appear to be serious problems. Wineries are facing a veritable oversupply crisis and sales have plummeted in the last year - largely, it is thought, due to a lack of tourists since the Mumbai terror attacks in November 2008.
On a macroeconomic level, the Reserve Bank of India this week upgraded its forecast on the national economy, predicting that gross domestic product could rise by 6.5% this year, compared to previous guidance of between 5.5 and 6%.
Many developed nations, albeit sitting on bigger piles of wealth already, would kill for a rate at even half that.
India is one emerging market that does not appear to have lost its shine.
Philadelphia’s soda tax came into force on Sunday, and is reportedly causing a stir in the city's check-out aisles....
Earlier this month, I was most-kindly invited by Accolade Wines to visit the Royal Albert Hall in London. The reason? They wanted to see a tennis great in action, and then give them a guided tour thro...
Do you like whisk(e)y? And, I mean, really like whisk(e)y? Are you at a loose end in the first half of 2017? If so, then I've found just the job for you....
Most of the time, changes at the top of a company present themselves in press releases, stock exchange filings or responses from a spokesperson....
- What's coming up in beer in 2017? - Comment
- What's coming up in spirits in 2017? - Comment
- When BRIC markets go horribly wrong
- Interview, Philip Gregan, New Zealand Winegrowers
- Remy Cointreau's bellwether Q3 - analysis
- Diageo closes spirits e-commerce portal in UK
- A-B InBev acquires Spain's Cervezas La Virgen
- Home entertaining offers drinks opp's - Diageo
- Former Stoli Group CEO joins Perfect Vodka owner
- Diageo mulls United Spirits stake buy - report
- Global vodka insights - market forecasts, product innovation and consumer trends
- The Next Seven Big Beverage Markets
- Global Cognac insights - market forecasts, product innovation and consumer trends
- Global gin insights - market forecasts, product innovation and consumer trends
- Opportunities in Craft Spirits