Whisky is loved globally, and while Scotch whisky was once seen as an exclusive product of foreign countries, India has established a prominent position in the global market with its growing single malt whisky industry, gaining international recognition and pride. Adding further to this achievement, Mark Kent, the chief executive of the Scotch Whisky Association (SWA), recently announced that India is expected to become the world’s largest Scotch whisky market. Here’s everything you must know about it!
In the coming years, India is expected to become the largest global market for Scotch whisky, both in terms of volume and value. This growth can be attributed to rapid economic development, increased competition in the industry, and rising demand for premium products.
Recent data from the Scotch Whisky Association (SWA) reveals that India has already regained its status as the largest market for Scotch whisky by volume, surpassing France with approximately 192 million bottles shipped in 2024 alone.
India is currently ranked among the top five markets, and the SWA believes it could soon ascend to the number one position. Achieving this will depend on the emergence of new trade opportunities or a reduction in import duties.
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The SWA is actively looking for partnerships with the Indian producers for benefits that are mutual and also beyond imports. These collaborations are meant to introduce Indian single malts to other international markets like the UK. To reduce tariffs on Scotch whisky, a proposed India-UK Free Trade Agreement is awaited, which will make things easier by boosting bilateral trade.
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Over the last few years, it has been seen that the move towards premium whisky brands has now become a trend among all consumers looking for luxury experiences. Indian whisky makers who are into producing single malts are capitalising on this trend and earning global recognition as well. This shift towards premiumisation is expected to solidify India’s position in the largest value and volume Scotch whisky market.
According to SWA, the more joint ventures and strategic alliances happen between Indian single malts and Scotch brands, the more the chances for the export to grow. This will also help in expanding India’s footprint worldwide. The industry's compound annual growth rate (CAGR) in India is projected at around 12% between 2021 and 2026.
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Basically, India is setting trends in the whisky world. It is about to become the biggest market in the world for Scotch whisky, thanks to more people buying premium drinks, working together with Scottish whisky makers, and new laws that could help the industry grow.
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