कोशिश गोल्ड - मुक्त
IN HIGH SPIRITS
Fortune India
|15th March- The Next 500
Passion for the liquor trade has made Abhishek Khaitan, MD of branded spirits manufacturer Radico Khaitan, build top-selling premium brands by targeting niches and, recently, taking advantage of the free flow of alcohol in states like Uttar Pradesh.

TWO WORDS. UTTAR PRADESH (U.P.). They’re enough to break Abhishek Khaitan into a smile.
A new excise policy has made India’s largest and most populous state the backdrop to a happy new business reality for the managing director of Radico Khaitan Ltd (Radico), the maker of Magic Moments vodka.
The new rules have been a win-win for the private sector and for the government. They include an open bidding process for dealers and retailers in a bid to weed out smuggling syndicates; streamlining of the wholesale trade by striking down special excise zone rules that benefitted certain wholesalers; and in January this year, allowing hotels to serve liquor till 4 a.m. from the earlier deadline of 12 a.m.
This has boosted revenue collection from the sale of alcohol in U.P., slated to touch ₹30,000 crore by March this year, according to trade analysts. It had already gone up by 71% to ₹24,000 crore in FY19 from ₹14,000 crore in FY17.
For businesses like Radico, the upside is simple: The policy has weeded out oligarchs from controlling the liquor trade.
That means higher spirits in U.P., always a positive market for alcobev (alcoholic beverage) players in India. Radico, which holds 56% of the vodka market in the country, has taken full advantage of these changes. “Amongst all the states today, U.P. is seen as more reformist as far as alcohol laws are concerned. It has actually allowed branded players to increase their presence out there,” says Sanjay Jain, a financial adviser to the Indian spirits industry. “This was a home run for Radico and they didn’t let go of their advantage.”
यह कहानी Fortune India के 15th March- The Next 500 संस्करण से ली गई है।
हजारों चुनिंदा प्रीमियम कहानियों और 10,000 से अधिक पत्रिकाओं और समाचार पत्रों तक पहुंचने के लिए मैगज़्टर गोल्ड की सदस्यता लें।
क्या आप पहले से ही ग्राहक हैं? साइन इन करें
Translate
Change font size