Indian-made foreign liquor volumes grow 14% in FY23

The industry rebounds from the pandemic-led challenges, sets new growth trajectory.

- Varuni Khosla

Whisky continued to dominate the alcoholic beverage sector with estimated sales of 243 million cases, accounting for 63% of the total market. However, after witnessing a prolonged decline in sales, gin has had a reversal in fortunes and is poised for growth in the Indian-made foreign liquor (IMFL) segment.

In 2022-23, sales of IMFL products in India gained significant momentum, reaching 385 million cases, up nearly 14% from a year ago, and about 12% over the pre-covid period of 2019-20.

According to a report by the Confederation of Indian Alcoholic Beverage Companies (CIABC), the IMFL industry has fully recovered from the adverse effects of the pandemic with fairly consistent sales across most states.

While the western region witnessed a stellar 32% growth, the eastern region clocked 22% growth. Sales in the North and South were lower at 16% and 9% respectively. However, the South remained the largest contributor to sales volumes with a 58% share followed by the West and East at 22% each, while northern states contributed 16%.

CIABC, representing the interests of firms such as Radico Khaitan