A substantial rise in the disposable incomes of Indians has led to an immense growth of the alcobev sector in the country. According to the International Spirits & Wines Association of India (ISWAI), the alcobev industry in India is poised to touch $64 billion by 2030.
The sector also offers direct and indirect employment to a staggering 79 lakh individuals in India, according to a report, ”Economic Value of the Indian Alcoholic Beverage Industry” by ISWAI.
The country’s burgeoning middle class is also fuelling significant premiumisation in the sector as demand for premium liquor is surging. In addition, according to experts, Indian alcobev producers have not only addressed the colossal domestic demand but have also marked a significant global presence.
”In the past decade, the Indian beverage industry has shifted its focus from producing solely in India to creating drinks specifically tailored to the Indian market. Consumers have become more discerning and are now looking for brands with Indian heritage. Over the last two years, especially since the COVID-19 pandemic, the focus has shifted to “Made for India” and “Made in India for the world,” said Mr Kunal Vasudeva, Co-founder & Managing Director, Indian School of Hospitality.
”The top single malt in the world, for the last 3-4 years has been an Indian single malt, and the best-infused gins are also made in India for the world. Furthermore, Bira now exports to the Middle East from India, so 10-15 percent of all “Made in India” products are now also “Made for the World,” added Mr Vasudeva.
Experts also claim that the entire industry is witnessing a disruption across different segments such as supply chain, cold storage, manufacturing, logistics and consumers.
To cater to these evolving trends and offer global travellers an unprecedented experience, renowned hospitality institutions are also forging global collaborations with pre-eminent hospitality education institutions.
”We are part of Sommet Education, and Les Roches and Ecole Ducasse in Europe are strategic partners for us. International faculty members come to ISH to enhance the learning experience and offer a global perspective. Furthermore, our students have the option to move to Les Roches and Ecole Ducasse, receive an additional degree from these institutions, and avail themselves of global placement opportunities,” said Mr Vasudeva.
To align with the evolving trends in the alcobev sector as well as cater to the tastes of contemporary travellers, prominent hospitality education institutions like the Indian School of Hospitality are also organising events like the Concocting Conclave. These events are allowing future beverage managers to comprehend the intricacies and transformation in the beverage industry.
The National Education Policy (NEP) 2020 paved the way for the internationalisation of education by allowing foreign universities to set up their International Branch Campuses (IBCs) in India. This is creating a win-win situation for both Indian students and foreign educational institutions, as the presence of IBCs is enhancing the overall quality of higher education in India.
Today, India supports the entire Middle Eastern hospitality industry. If Indian students understand the preferences of international tourists and consumers, they can deliver a better experience. Just like India exported its IT, in the next five years, we will export hospitality worldwide,” added Mr Vasudeva.
