The size of the Indian wine industry may touch the Rs 2,700 crore-mark (Rs 27 billion-mark) by the end of 2012 due to rising disposable income, increasing tourism and suitable tax structures, an industry body study has said.
In 2008, the size of the wine market stood at Rs 800 crore (Rs 8 billion), the survey by Assocham said.
"Besides changing lifestyle and drinking habits, favourable government policies, rising disposable income and growth in tourism sector are paving the way for growth of the industry," it said.
In volume terms, consumption of wine in the country is expected to grow by 35 per cent from 4.6 million litres in 2008 to 14.7 million litres in 2012, the survey added.
It said that Mumbai accounts for 30 per cent of the total consumption in India, followed by Delhi and Goa, contributing 20 per cent each, Bangalore 15 per cent and Punjab 5 per cent.
The remaining quantity is consumed in other parts of the country.
