Global Alcohol Cos Demand $466 Million From Telangana

Global alcohol companies such as Diageo, Pernod Ricard, and Carlsberg are demanding unpaid dues of about $466 million from Telangana, where Heineken suspended supplies this week in an unprecedented move, three industry sources said.

- Reuters

NEW DELHI:

India is the world's eighth-biggest alcohol market by volume, with annual revenues that Euromonitor estimated last year at $45 billion. Its states individually regulate pricing of alcohol products, which are major contributors to their revenue.

Heineken's United Breweries has said it will halt supplies to southern Telangana, India's biggest beer consumer, because of delayed payments and lack of government approval for higher prices since fiscal FY20, which hurt its finances.