India Winemakers Tap Growth as Duties Boost Imports’ Prices
India Winemakers Tap Growth as Duties Boost Imports’ Prices
Jul 27, 2011 6
(Bloomberg) -- Patrons at the Polo Bar in India’s Hyatt Regency Delhi pay $147 for a bottle of 2010 Cloudy Bay Sauvignon Blanc. That’s more than at the Grand Hyatt Tokyo in the world’s most-expensive city.
Wine and spirits imported into India are subject to duties of at least 150 percent and costs are further inflated by other taxes. That benefits homegrown vintners including Sula Vineyards, India’s largest, as the industry is projected to grow 40 percent in the two years through 2012.
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