Crisis by Covid-19 hits India’s beer and spirits industry hard
Times on India reports that India’s liquor industry is suffering from the consequences of Covid-19.
India’s beer and India Made Foreign Liquor (IMFL) is experiencing an acute crisis as its sales have declined as a result of the isolation by Covid-19. In addition, there was a recent 30% tax increase by the government during April.
The beer market grew by around 85 % in the first three months of the financial year. The beer market grew by about 85 % in the first three months of the financial year, while IMFL liquor sales fell by 30 % in the same period.
Statistics show that consumers reduced considerably the purchase of liquors. One study showed that 50% preferred to buy in cheaper categories.
Statistics show that IMFL sales declined by 80% in April compared to the same period in 2019, by 37% in May and by 27% in June.
For beer, the numbers are more disappointing with wholesale sales declining by 100 % in April over the last year, 93 % in May and 80 % in June.
The Alcoholic Beverage Industry Body (CIABC) urged the Bengali government and other states to reduce the “Covid tax”. “Not only is it harmful to the industry, but to the public treasury as well.” Vinod Giri, director general of the CIABC, told the Times of India.
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