India was today (1 April) given the honour of becoming the first Asian nation to join the Paris-based Organisation of Vine and Wine (OIV), which looks after the global rulebook on do’s and don’t’s for the wine fraternity.
The news comes only a few weeks after a Vinexpo/IWSR survey predicted that Indian wine consumption will double over the next four years, to around 5m bottles.
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Yet, as India’s star rises over the global wine village, one of the country’s key players is on life support.
Indage Vintners, which a year ago changed its name from Champagne Indage due to a run-in with France’s Champagne heavyweights, has turned from pioneer to drop-out.
The High Court in Mumbai has ordered the firm to be wound up and the group has less than a week to prove that it has a credible plan to pay off spiralling debts of INR4bn (US$89m).
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