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Business Standard
3 days ago
- Business
- Business Standard
India-UK trade pact: Tariff cut may not impact Scotch whisky retail prices
The India-UK free trade agreement (FTA), under which tariffs on whisky and gin have been halved from 150 per cent to 75 per cent, which will further fall to 40 per cent in a decade's time, will not necessarily impact prices of Scotch whisky and gin for Indian consumers. According to a May 2025 report from the International Wine & Spirit Research (IWSR), blended Scotch grew the strongest of all the large whisky categories in India in 2024, with volumes rising by medium single digits and sales more than doubling since 2020. India is known to be a whisky market, with widespread national sales. However, while the data company's forecasts anticipated an upside from the FTA, it added that its impact should not be overestimated. 'While tariffs have been slashed from 150 per cent to 75 per cent, the impact on shelf prices is closer to 10 per cent and it is not a given that this will be passed on to consumers,' it had stated in the 2025 executive summary. The revised tariffs will apply to both bottled-in-origin (BIO) and bulk imports. Industry executives agree, stating that tariffs make up only up to 15 per cent of the final retail price, and with state taxes and costs for distribution and marketing, prices could be down by a mere 10 per cent. This may not be passed on to consumers, they said on the condition of anonymity. A senior commerce ministry official said that a major portion of whisky imports into India are used in the manufacture of blended whisky, whose production is set to rise due to cheaper raw material. 'We are foreseeing significant strategic and cost advantages from this development. We have estimated our Scotch requirements at over ₹250 crore in 2025-26 (FY26), and this treaty represents a substantial opportunity for value creation,' said Abhishek Khaitan, managing director at Radico Khaitan, one of the largest importers of Scotch whisky. Some liquor players also believe that the FTA will help consumers have access to premium Scotch whisky at reduced prices. 'The UK FTA is a positive move for the Scotch whisky segment, and it will enhance accessibility and affordability for Indian consumers. For import-driven portfolios like ours, this could fast-track category adoption, bring price parity closer to Indian Made Foreign Liquor (IMFL), and enable deeper reinvestment into consumer-building efforts,' said Debashish Shyam, cofounder and director, Ardent Alcobev, which sells Dram Bell blended Scotch whisky. However, the real benefit, Shyam added, will depend on how quickly the duty reductions are implemented, and whether the states align their tax structures accordingly. Spirits made up 51.2 per cent of the total beverage alcohol market in 2024, dominated by whisky. According to the data company, India consumed 258,750 under-9-litre cases of whisky in 2024, which is set to witness a compound annual growth rate (CAGR) of 3.1 per cent from 2024 to 2029. These included 8,509.60 cases of Scotch whisky, the company stated, adding that India is set to become the biggest Scotch market in the world by 2027.
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Business Standard
4 days ago
- Business
- Business Standard
India-UK FTA tariff cut may not affect scotch whisky prices for locals
India-UK FTA slashes Scotch and gin import duties, but retail prices likely to remain high due to state taxes and distribution costs New Delhi Listen to This Article The India-UK free trade agreement (FTA), under which tariffs on whisky and gin have been halved from 150 per cent to 75 per cent, which will further fall to 40 per cent in a decade's time, will not necessarily impact prices of Scotch whisky and gin for Indian consumers. According to a May 2025 report from the International Wine & Spirit Research (IWSR), blended Scotch grew the strongest of all the large whisky categories in India in 2024, with volumes rising by medium single digits and sales more than doubling since 2020. India is known to be a whisky market,
Fox News
7 days ago
- Business
- Fox News
Gen Z drinking more alcohol than before, challenging long-held industry assumptions about youth habits
Despite taking blame for the alcohol industry's global slump, new data reveals that Gen Z adults are actually drinking more – not less – than before. According to drinks data and analytics provider IWSR, zoomers ranging from legal drinking age to age 27 (LDA+) increased their alcohol consumption from 66% in April 2023 to 73% in March 2025, indicating they haven't changed their habits as a result of healthy lifestyles or cultural trends as initially suspected. "Alcohol usage among LDA+ Gen Z adults has increased significantly from April 2023 lows, and there is evidence that the propensity to go out and spend more is recovering among this group – challenging the received wisdom that this generation is 'abandoning' alcohol," Richard Halstead, Consumer Insights COO, said per a press release on the findings. The findings suggest that lower alcohol consumption seen in recent years may have been less about cultural shifts and more about financial constraints. In fact, the members of the generation were most likely to agree with the statement, "I am actively choosing to drink more." Zoomers in the U.S. aren't alone either. In addition to participation rates among American Gen-Zers rising from 46% to 70% between April 2023 and March 2025, respectively, IWSR reports drinking rates are rising in other countries. In the United Kingdom, Gen Z alcohol participation rose from 66% to 76%. In India, the number climbed from 60% to 70% and, in Australia, the percentage went from 61% to 83%. Halstead said Gen Z's behavior has large economic implications. Meaning, as more young adults become established in the workplace and mitigate their cost-of-living concerns, their alcohol consumption tends to respond accordingly. "We know that beverage alcohol consumption correlates with disposable income, and Gen Z came of age during a cost-of-living crisis. Rising prices have been especially acute in bars and restaurants – places that appeal most to Gen Z drinkers," he said. "With every year that passes, more Gen Z drinkers are entering the workforce, and those already in the workforce are typically earning more. I think we should expect that, as their incomes rise, they will drink more often – just as Millennials did before them." He added that the findings suggest the industry's decline is more "cyclical" than longstanding.
Yahoo
18-07-2025
- Entertainment
- Yahoo
No longer sober: Gen Z has become a boozy generation— this is to blame, study says
They're Gen Boozey. Zoomers have historically been labeled a fairly abstinent generation. But now, the generation born between 1997 and 2012 are bucking their party pooper stereotype by increasing their alcohol consumption as cost of living pressures ease, per a buzzy study by global beverage market research firm IWSR Bevtrac. 'The idea that Gen Z LDA+ (legal drinking age) drinkers are choosing to moderate significantly more than other generations doesn't hold up,' Richard Halstead, IWSR's chief operating officer of consumer insights, told Newsweek. This shocking study contrasts with prior data over the past several years, which found that Gen Z was drinking far less alcohol than previous generations. Their Z-totalling ways famously prompted an increase in sober gatherings and alcohol-free bars across New York City. To determine the rates of hooch intake across generations, the researchers surveyed more than 26,000 people across the 15 biggest alcoholic drink markets: Australia, Brazil, Canada, China, Germany, France, India, Italy, Japan, Mexico, Spain, South Africa, Taiwan, the UK and the US. The survey found that 73% of Gen Zers aged 21-27 had admitted to consuming alcohol in the past six months, compared to 66% two years prior — the biggest increase of any generation, The Financial Times reported. This uptick was magnified in the US, soaring from 46% to 70%. What prompted Gen Z's increased fascination with libations? Halstead claimed that Zoomers didn't suddenly acquire the taste, but rather they now have more disposable income to burn on booze than in years prior — when they were more cash-strapped due to inflation and the fact that fewer were employed. 'We know that beverage alcohol consumption correlates with disposable income, and Gen Z came of age during a cost-of-living crisis, he explained, per the Times Of London. 'Rising prices have been especially acute in bars and restaurants — places that appeal most to Gen Z drinkers.' Halstead added, 'With every year that passes, more Gen Z drinkers are entering the workforce, and those already in the workforce are typically earning more.' That being said, 20-somethings remain marginally less likely to drink than most other generations. By contrast, the so-called booziest generation, the Baby Boomers, appear to be cutting back. The proportion of 60-and-over respondents who admitted to consuming booze over the past six months dropped to 72% — a one percent decrease from two years ago. In addition, Zoomer boozers were more likely to imbibe spirits, consume a wider variety of alcoholic beverages, and also drink at bars, restaurants or clubs than the other generations. According to the study, millennials — those aged between 28 and 44 — were the most likely to booze with 83% admitting to touching the bubbly over the past half-year. Gen Xers — those born between 1965 and 1980 — came in second at 79%. Solve the daily Crossword
The Independent
13-07-2025
- Business
- The Independent
The real reason Gen Z have stopped being ‘sober curious'
Hold the kombucha and pour me a pint! It seems that Gen Z are actually drinking alcohol, and I'm not surprised one bit. I wish I'd made a note of the number of wine tastings, seminars, meetings and dinners where the seemingly existential crisis of Gen Z not drinking was discussed. Not to mention the thousands of entries on a brief Google search to see how much it's been written about. It was going to be the death knell of the wine industry. But I never really believed it was going to stay that way. People change, after all. And, it seems I was right. New data released by IWSR shows that the situation is altogether far more nuanced. I mean, aren't most things in life? It seems the ' sober curious ' generation have become curious about booze. IWSR's Bevtrac findings show a marked increase in 'alcohol participation levels' compared with two years ago. In research carried out in the top 15 markets (including the UK, North America and Australia) in April 2023, 66 per cent of Gen Z consumers said they had consumed alcohol in the past six months, this figure rose to 73 per cent in March 2025. And interestingly, the trend is especially strong in some key global markets, including the UK, where participation increased from 66 per cent to 76 per cent, Australia, where there was a staggering leap from 61 per cent to 83 per cent, and the US, with a huge bump from 46 per cent to 70 per cent. As Richard Halstead, COO of consumer insights at IWSR, says: 'There is evidence that the propensity to go out and spend more is recovering among this group – challenging the received wisdom that this generation is 'abandoning' alcohol.' Issues such as consumer confidence around inflation has had a huge cross-generational impact when it comes to purchasing, with the cost of living crisis having been brutal for many. But Gen Z have especially suffered, maturing in a period where they're met with soaring costs and stagnant salaries, not to mention the global pandemic and the impact it had on hospitality and real-life socialising. Further research published by Rabobank in April supports this notion, with data showing that Gen Z's drinking is actually on par with previous generations. And that in the US, the proportion that each generation spends of their after-tax income on alcohol is exactly the same – boomer, millennial and Gen Z'er alike. The headlines were misleading. We were being told that it's a generation obsessed with 'wellness', but it turns out they're just skint! And my God, we have all been there (I mean, I still mostly am, aren't you?). It's just that when I was starting out on an incredibly meagre salary, I was propping it up with a hefty overdraft and a plethora of credit cards. Banks were falling over themselves to give people like me credit cards and overdrafts without any checks as to whether you could actually afford them. My Egg card was well and truly funding my millennial avo and egg habit to the max. Want to go shopping? Get a store card. Want to go out for a drink? Put it on your credit card. I was a fully signed up card-carrying millennial who definitely drank above the recommended weekly allowance. Boozy Thursdays spread effortlessly into Fridays, Saturdays and Sundays. I was the queen of knowing a little late-night drinking den that was still serving in the early hours of the morning. But I'm delighted that most of my Gen Z friends appear to be far more sensible and financially astute. Believe me, I learn a lot from them. And I'm thankful that personal finance isn't so readily available; it crippled me for many years. And looking at this situation from someone who makes a living from tasting and talking about drinks, with a heavy leaning on wine, I think the alcohol industry should be pleased with this emerging picture. The days of excessive underage drinking are hopefully dwindling and people are being more cautious with the amount they drink. Both of these are excellent outcomes. And there's a genuine interest in premium products too. Drinking less, but better, has never been an easier or cooler thing to do. Nothing stays the same forever. And the wine industry for the most part reflects this, showing a keen and energetic desire to welcome new consumers. In many ways, I feel nothing but excitement about these latest figures. It's one of my greatest pleasures to help people find the wine that sparks their love of this wondrous product that has endured for thousands of years. Wine and the world that surrounds it really is a beautiful thing, so here's to the latest generation of wine lovers, I can't wait to share a glass with you.
