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Comment Clicks#Clicks Comment - 115781430#ATF"><span class="asSprite c_icon"></span><span class="cmnt_count hidden"></span><span>Comment</span></div></div></div></div><div class="edition clearfix"><div class="pageContent flt"><div style="position:absolute; height:250px; width:300px; top:12px; right:1%" id="primuser_ad_absolute"><div data-loc="All" data-user="subscribed" data-size="[[300,250]]" data-adsSlot="ET_Prime/ET_Prime_AS/ET_Prime_AS_ATF_Mid_Banner" id="primead_115781430" class="primeuser_asmidad"></div></div><div class="artSyn bgPink"><div class="bold">Synopsis</div><h2 class="summary">Pernod Ricard, the global spirits company, is prioritizing the development of Indian single malts to compete on par with renowned Scotch, American, Irish and Japanese whiskies. Significant investments are made for distillery and warehousing in Nagpur. India emerged as the firm's second-largest market by sales, underscoring its strategic importance.</h2></div><article competitionClients="" currency_ad="1" data-apw="1" class="artData clr paywall"><div class="imgBox"><figure class="artImg"><img height="225" width="300" alt="Alexandre Ricard" src="https://img.etimg.com/thumb/msid-115781507,width-300,height-225,imgsize-273977,resizemode-75/alexandre-ricard.jpg"><figcaption class="figCap">Alexandre Ricard (Source- Pernod Ricard)</figcaption></figure></div><div data-brCount="42" class="artText"><a ref="dofollow" data-ga-onclick="Inarticle articleshow link click#Industry#href" href="/topic/pernod-ricard" target="_blank">Pernod Ricard</a> global chief executive Alexandre <a ref="dofollow" data-ga-onclick="Inarticle articleshow link click#Industry#href" href="/topic/ricard" target="_blank">Ricard</a> said creating <a ref="dofollow" data-ga-onclick="Inarticle articleshow link click#Industry#href" href="/topic/indian-single-malts" target="_blank">Indian single malts</a> for global markets and eventually getting them to be regarded as being on a par with Scotch, American, Irish and Japanese whiskies is a top priority for the company. But it will have to be a broad-based effort.<br><br><style> #sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;} </style><div class="crypto onDemand" data-ga-impression="On Demand CTA articleshow#Impressions | On Demand CTA | Articleshow#" id="sr_widget"><div class="live live_stock"><p>Trump-Modi Meet</p></div><div style="margin-top: 10px;float: left;width: 100%;"><a class="text" target="_blank" data-ga-onclick="On Demand CTA articleshow#Clicks | On Demand CTA | Articleshow#https://economictimes.indiatimes.com/news/economy/policy/trump-modi-talk-fighter-jets-trade-wars-china-making-india-great-again-leave-out-adani/articleshow/118233685.cms" href="https://economictimes.indiatimes.com/news/economy/policy/trump-modi-talk-fighter-jets-trade-wars-china-making-india-great-again-leave-out-adani/articleshow/118233685.cms"><p style="font-size:14px;font-weight:400;margin-top: 5px;" class="sr_desc">The mega MIGA, MAGA plans of India's Modi and US' Trump</p></a><a class="text" target="_blank" data-ga-onclick="On Demand CTA articleshow#Clicks | On Demand CTA | Articleshow#https://economictimes.indiatimes.com/news/economy/foreign-trade/trump-announces-reciprocal-tariffs-says-india-has-more-tariffs-than-any-other-country/articleshow/118224384.cms" href="https://economictimes.indiatimes.com/news/economy/foreign-trade/trump-announces-reciprocal-tariffs-says-india-has-more-tariffs-than-any-other-country/articleshow/118224384.cms"><p style="font-size:14px;font-weight:400;margin-top: 5px;" class="sr_desc">Trump says India has more tariffs than others</p></a><a class="text" target="_blank" data-ga-onclick="On Demand CTA articleshow#Clicks | On Demand CTA | Articleshow#https://economictimes.indiatimes.com/news/international/global-trends/trumps-golden-rule-for-imposing-reciprocal-tariffs-and-what-they-mean-for-us-allies-explained/articleshow/118234227.cms" href="https://economictimes.indiatimes.com/news/international/global-trends/trumps-golden-rule-for-imposing-reciprocal-tariffs-and-what-they-mean-for-us-allies-explained/articleshow/118234227.cms"><p style="font-size:14px;font-weight:400;margin-top: 5px;" class="sr_desc">Trump's 'golden rule' for imposing reciprocal tariffs</p></a></div></div>"We want the Indian whisky to be a category of its own-and it is starting to be recognised globally," said Ricard, grandson of company founder Paul Ricard. "When you go to whisky shops in Paris, we have started seeing sections dedicated to Indian malts in some places. But when you want to develop a category, it's difficult to do it alone and it's much better that some competitors are pushing to develop the market." The French company behind Glenlivet, Chivas and Absolut is investing nearly ₹1,800 crore to build its biggest Asian distillery to make malt in Nagpur. <br><div data-mid-newpos-mgid="mgid_115781430" id="div-mgid-mid-newpos-115781430"></div><br>"We need to build distillery, warehousing capacity, start the maturation process, and in parallel, have the team work on an innovation pipeline behind one or several brands," he said in an interview.<br><div style="margin-bottom:45px;" class="adBox custom_ad nonm taboola" data-taboola="taboola_115781430"><div class="colombia colombiaAd" data-section="0" data-position="115781430" data-slot="532740" col="2" data-msg="ctnCallbackHandler" id="div-clmb-ctn-208630-115781430-42"></div><div id="v-economictimes-indiatimes-v3"></div><div data-placement="Mid Article Thumbnails" data-target_type="mix" data-mode="thumbnails-mid" style="min-height:400px; margin-bottom:12px;" class="wdt-taboola" id="taboola-mid-article-thumbnails-115781430"></div></div><br>The France-headquartered Pernod Ricard said whisky amateurs across markets prefer offerings from different regions and origins across the world to compare the story, roots and different distillation methods. For instance, regions like Speyside in Scotland or Champagne in France give specific characteristics to the product, and vary from one region to another because of the temperature, he said.<br><br>"I do believe Indian whiskey has a role to play but we need to start to build an Indian single malt first (as a category) and when it's well known and we have a bigger base, then we can go into more specificity," said Ricard, 52. "If we start talking about whiskey from a particular region without putting Indian at the front, we are going to confuse the consumer." Ricard said he has tasted most Indian single malts owned by rivals to compare it with Pernod's own local single malt, Longitude. 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Multinationals such as Pernod Ricard and Diageo have added Indian brands such as Longitude 77, Epitome Reserve and Godawan to portfolios that already include imported single malts.<br><br><div data-size="[[300, 250], [600, 250], [600, 300]]" data-adsSlot="/7176/Economictimes/ET_News/ET_News_ROS/ET_News_ROS_MID_INTL_300" data-loc="100" id="div-gpt-ad-858478126-1-115781430" class="country_specAD"></div>"Indian malts are now getting included in consumers' wide repertoire at their home bars, winning accolades globally and have become mainstream in the country," said Sandeep Arora, director at luxury spirits consulting firm <a ref="dofollow" data-ga-onclick="Inarticle articleshow link click#Industry#href" href="/topic/spiritual-luxury-living" target="_blank">Spiritual Luxury Living</a>. "However, global companies have distribution networks in multiple countries with access to a global palate and consumers, and this can really speed up its growth." Companies have to master aging and quality to compete on a global scale, he said.<br><br><div data-size="[[300, 250], [600, 250], [600, 300]]" data-adsSlot="/7176/Economictimes/ET_News/ET_News_ROS/ET_News_ROS_MID1_INTL_300" data-loc="2" id="div-gpt-ad-858478132-1-115781430" class="country_specAD2nd"></div><div data-size="[[300, 250], [600, 250], [600, 300]]" data-adsSlot="/7176/Economictimes/ET_News/ET_News_ROS/ET_News_ROS_MID1_INTL_300" data-loc="5" id="div-gpt-ad-858478132-1-115781430" class="country_specAD2nd"></div><div data-size="[[300, 250], [600, 250], [600, 300]]" data-adsSlot="/7176/Economictimes/ET_News/ET_News_ROS/ET_News_ROS_MID1_INTL_300" data-loc="3" id="div-gpt-ad-858478132-1-115781430" class="country_specAD2nd"></div>For decades, the success of single malts has been closely tied to perceptions about age, quality and price-the older the better, and more expensive. Indian single malts don't carry age statements because of local climatic conditions. In Scotland for instance the evaporation during barrel ageing-known as the angels' share-is just 2−3% a year, while the heat of India means it is commonly more than 10%. Most Indian single malts, therefore, have an optimum maturation of five to eight years.<br><br><strong>India, a must win</strong><br><br> Pernod, the world's second biggest distiller, counts India among its three "must-win" countries globally, along with the US and China.<br><br>"India is one of our biggest growth engines and the opportunity that I see is quite tremendous," said Ricard, who is on a three-day visit to India. "All the lights are green in India with the economy expected to keep growing in the future, favourable demographics, increasing legal drinking age population and rising appetite for premium products... Our mandate here is to triple the business in the next decade."<br><br>For the first time, India outpaced China to become the second-biggest market by sales for the company during its financial year ended June. The US accounted for 19% of Pernod Ricard's sales, followed by India at 12% and China at 10%. Until the last fiscal year, India contributed 10% of Pernod Ricard's global sales, ranking third after the US and China.<br><br>In volume terms, India has been the largest market worldwide for many years. The country also became the second-largest market worldwide for Jameson and Glenlivet. With revenue of Rs 26,773 crore in FY24, Pernod surpassed rival Diageo to be India's biggest alcobev firm last fiscal.<br><br>The liquor business in India is highly regulated with governments controlling prices as well as retail and distribution in most states. Also, India, the world's biggest whiskey-consuming market, is predominantly skewed towards the mass end, and Pernod's portfolio is entirely premium and semi-premium brands including Blenders Pride, 100 Pipers and Imperial Blue.<br><br>"There is a difference between changing and progression," Ricard said. "What I do like here is the commitment and the focus of the authorities to really work on ease of doing business and simplification. To be fair, I come from Europe and we have our own complexity. So every single region or every single market has to deal with their complexities."<br><br><strong>Sobering up?</strong><br><br> In India, demand for spirits fell 1% in the quarter ended September, the first decline since the pandemic, with companies attributing floods in a few states and increased taxes muting demand amid the broader economic stress that has cramped consumption across categories. Liquor mimicked the overall consumer discretionary segment, in which sales of products such as apparel, footwear and beauty, slowed in India after two years of pandemic-induced runway growth.<br><br>Ricard said consumer spending is normalising globally after the exuberance following the pandemic-induced lockdown.<br><br>"There's no doubt that after the super cycle, after the pandemic which demonstrated that people really need to go out, things have or are normalising," he said. "We are a consumer-driven sector, so obviously there's a link between purchasing power and purchasing patterns within our industry. India's economy is growing, so it's OK here."<br><br>India's population of legal drinking age is estimated at about 300 million, out of its nearly 1.4 billion people. However, just about half can afford only cheap, unbranded liquor. The rapidly growing middle-class population that can buy premium-and-above spirits brands is about 150 million, which is the segment that Pernod Ricard is targeting. <br><br>Single malt refers to whiskey from one distillery, prized for its unique taste, as opposed to a blend.<br><br><style> #sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;} .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px} #sr_widget.onDemand .sr_desc{margin:0 auto 0;} #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;} #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important} #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%} #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;} </style><div class="inSideInd"><br><br><em>(You can now subscribe to our <a rel="nofollow" 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href="https://economictimes.indiatimes.com/adani-power-ltd/stocks/companyid-23479.cms" title="Adani Power Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">Adani Power Share Price</a></td><td class="stockValue">497.8</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_2"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per green">27.7(5.9%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_2"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/one97-communications-ltd/stocks/companyid-2017785.cms" title="PayTM Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">PayTM Share Price</a></td><td class="stockValue">734.7</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_2"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per red">-20.4(-2.71%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_2"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/punjab-national-bank/stocks/companyid-11585.cms" title="PNB Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">PNB Share Price</a></td><td class="stockValue">93.12</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_2"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per red">-0.87(-0.93%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_2"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/zomato-ltd/stocks/companyid-57948.cms" title="Zomato Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">Zomato Share Price</a></td><td class="stockValue">225.63</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_2"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per green">2.94(1.33%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_3"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/bharat-electronics-ltd/stocks/companyid-11945.cms" title="BEL Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">BEL Share Price</a></td><td class="stockValue">256.65</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_3"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per green">0.3(0.12%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_3"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/bharat-heavy-electricals-ltd/stocks/companyid-11831.cms" title="BHEL Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">BHEL Share Price</a></td><td class="stockValue">194.61</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_3"><td class="brdrbt"><span class="dateTimeStock">03:58 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per green">3.19(1.67%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_3"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/infosys-ltd/stocks/companyid-10960.cms" title="Infosys Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">Infosys Share Price</a></td><td class="stockValue">1767.7</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_3"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per green">3.61(0.21%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_3"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/indian-railway-catering-tourism-corporation-ltd/stocks/companyid-16705.cms" title="IRCTC Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">IRCTC Share Price</a></td><td class="stockValue">710.35</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_3"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per red">-10.0(-1.39%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_3"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/itc-ltd/stocks/companyid-13554.cms" title="ITC Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">ITC Share Price</a></td><td class="stockValue">404.85</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_3"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per green">2.96(0.74%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_3"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/jio-financial-services-ltd/stocks/companyid-14555.cms" title="Jio Financial Services Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">Jio Financial Services Share Price</a></td><td class="stockValue">226.32</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_3"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per red">-2.13(-0.94%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_3"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/life-insurance-corporation-of-india/stocks/companyid-5050.cms" title="LIC Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">LIC Share Price</a></td><td class="stockValue">756.55</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_3"><td class="brdrbt"><span class="dateTimeStock">03:58 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per red">-18.86(-2.44%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_3"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/reliance-industries-ltd/stocks/companyid-13215.cms" title="RIL Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">RIL Share Price</a></td><td class="stockValue">1204.0</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_3"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per red">-10.55(-0.87%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_3"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/hindustan-aeronautics-ltd/stocks/companyid-9206.cms" title="HAL Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">HAL Share Price</a></td><td class="stockValue">3287.4</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_3"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per red">-63.0(-1.89%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_3"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/jaiprakash-power-ventures-ltd/stocks/companyid-1513.cms" title="JP Power Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">JP Power Share Price</a></td><td class="stockValue">13.97</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_3"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per green">0.12(0.8%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_4"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/nbcc-india-ltd/stocks/companyid-4531.cms" title="NBCC Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">NBCC Share Price</a></td><td class="stockValue">78.71</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_4"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per red">-1.25(-1.56%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_4"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/tata-consultancy-services-ltd/stocks/companyid-8345.cms" title="TCS Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">TCS Share Price</a></td><td class="stockValue">3629.55</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_4"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per red">-46.05(-1.26%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_4"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/vedanta-ltd/stocks/companyid-13111.cms" title="Vedanta Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">Vedanta Share Price</a></td><td class="stockValue">409.25</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_4"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per red">-13.61(-3.22%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_4"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/wipro-ltd/stocks/companyid-12799.cms" title="Wipro Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">Wipro Share Price</a></td><td class="stockValue">291.3</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_4"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per red">-3.75(-1.28%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_4"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/indian-oil-corporation-ltd/stocks/companyid-11924.cms" title="Indian Oil Corp. Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">Indian Oil Corp. Share Price</a></td><td class="stockValue">118.65</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_4"><td class="brdrbt"><span class="dateTimeStock">04:00 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per red">-1.57(-1.31%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_4"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/ircon-international-ltd/stocks/companyid-11980.cms" title="Ircon Intl. Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">Ircon Intl. Share Price</a></td><td class="stockValue">153.84</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_4"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per red">-1.07(-0.7%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_4"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/steel-authority-of-india-sail-ltd/stocks/companyid-11974.cms" title="SAIL Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">SAIL Share Price</a></td><td class="stockValue">106.17</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_4"><td class="brdrbt"><span class="dateTimeStock">03:58 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per red">-2.04(-1.89%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_4"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/sjvn-ltd/stocks/companyid-18460.cms" title="SJVN Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">SJVN Share Price</a></td><td class="stockValue">89.53</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_4"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per red">-1.25(-1.38%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_4"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/gail-india-ltd/stocks/companyid-4845.cms" title="GAIL Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">GAIL Share Price</a></td><td class="stockValue">160.74</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_4"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per red">-3.85(-2.34%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_4"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/housing-and-urban-development-corporation-ltd/stocks/companyid-4516.cms" title="HUDCO Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">HUDCO Share Price</a></td><td class="stockValue">178.21</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_4"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per red">-3.8(-2.09%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_5"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/rec-ltd/stocks/companyid-4616.cms" title="REC Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">REC Share Price</a></td><td class="stockValue">383.6</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_5"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per red">-8.1(-2.07%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_5"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/reliance-power-ltd/stocks/companyid-4422.cms" title="Reliance Power Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">Reliance Power Share Price</a></td><td class="stockValue">36.52</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_5"><td class="brdrbt"><span class="dateTimeStock">03:58 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per red">-0.28(-0.77%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_5"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/tata-technologies-ltd/stocks/companyid-4612.cms" title="Tata Technologies Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">Tata Technologies Share Price</a></td><td class="stockValue">731.15</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_5"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per red">-2.0(-0.28%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_5"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/vodafone-idea-ltd/stocks/companyid-3154.cms" title="Vodafone Idea Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">Vodafone Idea Share Price</a></td><td class="stockValue">7.91</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_5"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per red">-0.01(-0.13%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_5"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/adani-enterprises-ltd/stocks/companyid-9074.cms" title="Adani Ent. Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">Adani Ent. Share Price</a></td><td class="stockValue">2129.85</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_5"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per green">14.7(0.7%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_5"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/adani-green-energy-ltd/stocks/companyid-64847.cms" title="Adani Green Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">Adani Green Share Price</a></td><td class="stockValue">840.65</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_5"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per green">4.61(0.56%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_5"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/adani-ports-special-economic-zone-ltd/stocks/companyid-20316.cms" title="Adani Ports SEZ Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">Adani Ports SEZ Share Price</a></td><td class="stockValue">1080.35</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_5"><td class="brdrbt"><span class="dateTimeStock">03:58 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per green">9.95(0.93%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_5"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/ashok-leyland-ltd/stocks/companyid-14041.cms" title="Ashok Leyland Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">Ashok Leyland Share Price</a></td><td class="stockValue">227.23</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_5"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per green">4.14(1.86%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_5"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/bank-of-baroda/stocks/companyid-12040.cms" title="Bank of Baroda Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">Bank of Baroda Share Price</a></td><td class="stockValue">204.77</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_5"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per red">-3.86(-1.86%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_5"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/bse-ltd/stocks/companyid-2809.cms" title="BSE Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">BSE Share Price</a></td><td class="stockValue">5502.0</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_5"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per red">-107.25(-1.92%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_6"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/canara-bank/stocks/companyid-9218.cms" title="Canara Bank Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">Canara Bank Share Price</a></td><td class="stockValue">85.02</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_6"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per red">-1.94(-2.22%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_6"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/central-depository-services-india-ltd/stocks/companyid-4259.cms" title="CDSL Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">CDSL Share Price</a></td><td class="stockValue">1201.25</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_6"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per red">-12.71(-1.05%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_6"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/coal-india-ltd/stocks/companyid-11822.cms" title="Coal India Ltd Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">Coal India Ltd Share Price</a></td><td class="stockValue">361.15</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_6"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per red">-3.66(-1.01%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_6"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/hfcl-ltd/stocks/companyid-13649.cms" title="HFCL Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">HFCL Share Price</a></td><td class="stockValue">86.23</td></tr><tr class="hide moreData" data-loadmore="jsMoredata_6"><td class="brdrbt"><span class="dateTimeStock">03:59 PM | 25 Feb 2025</span></td><td class="stockValue brdrbt"><span class="cSprite_b per red">-1.13(-1.3%)</span></td></tr><tr class="hide moreData" data-loadmore="jsMoredata_6"><td class="stockName"><a target="_blank" href="https://economictimes.indiatimes.com/idfc-first-bank-ltd/stocks/companyid-62245.cms" title="IDFC First Bank Share Price" data-ga-onclick="RHS Widget#Most Searched Stock widget Click">IDFC First Bank Share Price</a></td><td class="stockValue">58.81</td></tr><tr class="hide 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Significant investments are made for distillery and warehousing in Nagpur. India emerged as the firm's second-largest market by sales, underscoring its strategic importance.", "datePublished": "2024-11-29T05:30:00+05:30", "dateModified": "2024-11-29T05:30:00+05:30", "url":"https://economictimes.indiatimes.com/industry/cons-products/liquor/making-indian-single-malts-for-world-getting-them-to-party-with-scotch-and-whiskies-top-priority-for-pernod-says-global-ceo/articleshow/115781430.cms", "mainEntityOfPage":"https://economictimes.indiatimes.com/industry/cons-products/liquor/making-indian-single-malts-for-world-getting-them-to-party-with-scotch-and-whiskies-top-priority-for-pernod-says-global-ceo/articleshow/115781430.cms", "articleSection" : "Industry", "articleBody":"Pernod Ricard global chief executive Alexandre Ricard said creating Indian single malts for global markets and eventually getting them to be regarded as being on a par with Scotch, American, Irish and Japanese whiskies is a top priority for the company. But it will have to be a broad-based effort. We want the Indian whisky to be a category of its own-and it is starting to be recognised globally, said Ricard, grandson of company founder Paul Ricard. When you go to whisky shops in Paris, we have started seeing sections dedicated to Indian malts in some places. But when you want to develop a category, it's difficult to do it alone and it's much better that some competitors are pushing to develop the market. The French company behind Glenlivet, Chivas and Absolut is investing nearly ₹1,800 crore to build its biggest Asian distillery to make malt in Nagpur. We need to build distillery, warehousing capacity, start the maturation process, and in parallel, have the team work on an innovation pipeline behind one or several brands, he said in an interview.The France-headquartered Pernod Ricard said whisky amateurs across markets prefer offerings from different regions and origins across the world to compare the story, roots and different distillation methods. For instance, regions like Speyside in Scotland or Champagne in France give specific characteristics to the product, and vary from one region to another because of the temperature, he said. I do believe Indian whiskey has a role to play but we need to start to build an Indian single malt first (as a category) and when it's well known and we have a bigger base, then we can go into more specificity, said Ricard, 52. If we start talking about whiskey from a particular region without putting Indian at the front, we are going to confuse the consumer. Ricard said he has tasted most Indian single malts owned by rivals to compare it with Pernod's own local single malt, Longitude. I think it can compete (globally) very seriously, he said of Longitude.The past few years have seen the launch of Indian single malts such as Piccadily Agro's Indri and Radico Khaitan's Rampur and Ranthambore, adding to established brands such as Amrut and Paul John. Multinationals such as Pernod Ricard and Diageo have added Indian brands such as Longitude 77, Epitome Reserve and Godawan to portfolios that already include imported single malts. Indian malts are now getting included in consumers' wide repertoire at their home bars, winning accolades globally and have become mainstream in the country, said Sandeep Arora, director at luxury spirits consulting firm Spiritual Luxury Living. However, global companies have distribution networks in multiple countries with access to a global palate and consumers, and this can really speed up its growth. Companies have to master aging and quality to compete on a global scale, he said.For decades, the success of single malts has been closely tied to perceptions about age, quality and price-the older the better, and more expensive. Indian single malts don't carry age statements because of local climatic conditions. In Scotland for instance the evaporation during barrel ageing-known as the angels' share-is just 2−3% a year, while the heat of India means it is commonly more than 10%. Most Indian single malts, therefore, have an optimum maturation of five to eight years.India, a must win Pernod, the world's second biggest distiller, counts India among its three must-win countries globally, along with the US and China. India is one of our biggest growth engines and the opportunity that I see is quite tremendous, said Ricard, who is on a three-day visit to India. All the lights are green in India with the economy expected to keep growing in the future, favourable demographics, increasing legal drinking age population and rising appetite for premium products... Our mandate here is to triple the business in the next decade. For the first time, India outpaced China to become the second-biggest market by sales for the company during its financial year ended June. The US accounted for 19% of Pernod Ricard's sales, followed by India at 12% and China at 10%. Until the last fiscal year, India contributed 10% of Pernod Ricard's global sales, ranking third after the US and China.In volume terms, India has been the largest market worldwide for many years. The country also became the second-largest market worldwide for Jameson and Glenlivet. With revenue of Rs 26,773 crore in FY24, Pernod surpassed rival Diageo to be India's biggest alcobev firm last fiscal.The liquor business in India is highly regulated with governments controlling prices as well as retail and distribution in most states. Also, India, the world's biggest whiskey-consuming market, is predominantly skewed towards the mass end, and Pernod's portfolio is entirely premium and semi-premium brands including Blenders Pride, 100 Pipers and Imperial Blue. There is a difference between changing and progression, Ricard said. What I do like here is the commitment and the focus of the authorities to really work on ease of doing business and simplification. To be fair, I come from Europe and we have our own complexity. So every single region or every single market has to deal with their complexities. Sobering up? In India, demand for spirits fell 1% in the quarter ended September, the first decline since the pandemic, with companies attributing floods in a few states and increased taxes muting demand amid the broader economic stress that has cramped consumption across categories. Liquor mimicked the overall consumer discretionary segment, in which sales of products such as apparel, footwear and beauty, slowed in India after two years of pandemic-induced runway growth.Ricard said consumer spending is normalising globally after the exuberance following the pandemic-induced lockdown. There's no doubt that after the super cycle, after the pandemic which demonstrated that people really need to go out, things have or are normalising, he said. We are a consumer-driven sector, so obviously there's a link between purchasing power and purchasing patterns within our industry. India's economy is growing, so it's OK here. India's population of legal drinking age is estimated at about 300 million, out of its nearly 1.4 billion people. However, just about half can afford only cheap, unbranded liquor. The rapidly growing middle-class population that can buy premium-and-above spirits brands is about 150 million, which is the segment that Pernod Ricard is targeting. Single malt refers to whiskey from one distillery, prized for its unique taste, as opposed to a blend.", "image": { "@type": "ImageObject", "url": "https://img.etimg.com/thumb/msid-115781507,resizemode-4,width-1200,height-900,imgsize-273977,overlay-economictimes/articleshow.jpg", "width": 1200, "height": 900 }, "author": { "@type": "Person", "name": "Sagar Malviya" }, "publisher": { "@type": "NewsMediaOrganization", "name": "Economic Times", "logo": { "@type": "ImageObject", "url": "https://img.etimg.com/thumb/msid-76939477,width-600,height-60,quality-100/economictimes.jpg", "width": 600, "height": 60 } } }</script><script type="application/ld+json"> { "@context": "https://schema.org/", "@type" : "WebPage", "name" : "Making Indian single malts for world, getting them at par with Scotch, whiskies top priority for Pernod: C", "speakable" : { "@type": "SpeakableSpecification", "cssSelector" : [".article_wrap h1", ".artSyn h2"] }, "url": "https://economictimes.indiatimes.com/industry/cons-products/liquor/making-indian-single-malts-for-world-getting-them-to-party-with-scotch-and-whiskies-top-priority-for-pernod-says-global-ceo/articleshow/115781430.cms" } </script><script type="text/javascript"> //set iframe height on load (function(){ $('#toispecials-iframe').height($(window).height()); })(); /* function scrollIframeToTop() { setTimeout(function() { $('body, html').animate({ scrollTop: $menuEl.offset().top }, 800); }, 500); } scrollIframeToTop(); */ </script><script> var countryCode = window.geoinfo && geoinfo.CountryCode; if (countryCode === "IN"){ $('.inSideInd').addClass("show"); $('.outsideInd').remove(); } else{ $('.outsideInd').addClass("show"); $('.inSideInd').remove(); } window.onload = function() { // setFont(); }; </script><div class="blocker_wrap hidden"><section class="font_mon login_blocker hidden"><div class="lb_head tac">Continue reading with one of these options:</div><div class="lb_box_cont"><div class="lb_box"><div class="lb_boxb"><div class="lb_boxh">Limited Access</div><div class="lb_boxt">Free</div><div class="lb_boxd">Login to get access to some exclusive stories<br> & personalised newsletters</div><div onclick="objPrimePaywall.cta('login')" class="lb_boxbtn">Login Now</div></div></div><div class="lb_box"><div class="lb_boxb"><div class="lb_boxh">Unlimited Access</div><div class="lb_boxt lb_pr">Starting @ Rs120/month</div><div class="lb_boxd">Get access to exclusive stories, expert opinions &<br> in-depth stock reports</div><div onclick="objPrimePaywall.cta('plan')" class="lb_boxbtn">Subscribe Now</div></div></div></div></section><div class="loader_box"><div class="spinner"><div class="loading-text">ET</div></div></div><section class="font_mon prime_paywall"><style> .articleBlockerWrap {width: 650px;background: #ffe9e2;height: 251px;display: none;margin: 2% auto 2%;box-shadow: 0 12px 20px 0 rgb(0 0 0 / 13%);} .articleBlocker {background: #ffe9e2;border: 7px solid white;padding: 28px 22px;width: 567px;margin: auto;text-align: left;position: relative;min-height: 149px;} .articleBlocker h4 {font-size: 24px;font-weight: bold;line-height: 1.27;} .articleBlocker p {font-size: 16px;margin: 15px 0;} .articleBlocker button {background: #ed193b;color: white;font-size: 16px;font-weight: 800;margin: auto;width: 215px;height: 37px;border-radius: 2px;position: absolute;animation: .18s linear infinite alternate slide;} @keyframes slide {from {left: 15px;}to {left: 30px;;}} .articleBlocker button:hover {animation-play-state: paused;cursor: pointer;} .articleBlocker img {position: absolute;right: 22px;height: 120px;bottom: 0;} </style><div data-paywall="true" data-grx-impression="Subscription Flow ET Articleshow Blocker#Scroll Blocker Impression#Blocker layer Viewed" class="articleBlockerWrap"><div class="articleBlocker"><h4>Uh-oh! 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