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Wednesday, November 30, 2022
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Need to build strong awareness on responsible alcohol consumption | Nita Kapoor, ISWAI

The notion that governments fundamentally do not support alcoholic beverages is widely held. But this notion needs to change as the AlcoBev industry is an important contributor to the state’s revenue. Excise taxes bring much money to the nation’s treasury. According to several different estimations, the contribution of the alcohol sector to India’s GDP is about 1.5 per cent. Excise revenue from alcohol contributes to a range of 25 – 40 % of the state’s own income.

After two previous years of muted festive celebrations, the 2022 festive season is seeming to show a buoyancy with higher sales in the FMCG industry and also has brought some cheer to the AlcoBev industry too in the country.

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Historically, sales during the festival season have recorded good growth in India, peaking around late October and going on till March of next year. This year, there has been a surge in demand for premium products as the key alcohol companies continue toadvocate moderation in consumption and are encouraging consumers to opt for higher-value quality and higher-value products. India has been witnessing a retail changeover through a change in a route-to-market approach and the introduction of browsable outlets. As a result, there has been an organic growth of premium products that adhere to stringent quality protocols leading to a shift towards awareness and education around Responsible and Safe Drinking. Premiumisation is also encouraging moderate and responsible drinking.

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The above news was originally posted on news.google.com

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