|According to The Economic Times, the UB group, a leader in India’s spirit and beer market, has set up its first wine company in Maharashtra signalling hectic activity in the Rs 90-crore Indian wine industry which till now was cluttered with small and mid-sized players only. Industry experts estimate that wine sales in India are expected to reach 30-million bottles in the next five years, although there is no proper record of such figures.|
It is also widely believed that rising incomes and an exposure to international fashion trends are popularising wine drinking in India. On a separate note, Maratha leader Sharad Pawar’s family could take up to 49% stake in UB chairman Vijay Mallya’s Four Seasons winery in Baramati, touted as the biggest wine project in India till date. Read the complete article.