- Despite facing high tariff barriers, French wine producers are hopeful about the potential of the Indian market.
- French wines and spirits experienced significant growth in 2022, according to Business France.
- According to Vianney Meynier, an industry expert, wines are a significant part of French exports, making the producers well-versed in navigating international markets.
French wine producers have noted high net-worth individuals (HNWIs) in the Indian market as being strong consumers of French luxury wine, despite high tariff barriers that detract wealthy collectors.
While India may still be a small market for French wines and spirits in terms of volume, industry professionals are optimistic about changing lifestyle trends in the country, which have motivated them to maintain strong ties with Indian importers and distributors.
Despite a dip in import volumes in 2020 due to the Covid-19 pandemic, French wines and spirits have rebounded in 2021 and experienced significant growth in 2022 according to Business France, the national agency for promoting French businesses.
With volumes growing by nearly 30% and sales value doubling, French wine producers are committed to maintaining their engagement with Indian importers and distributors.
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The recent Tastin’ France event in Delhi saw a record number of 21 French producers and exporters showcasing their products to Indian importers and stakeholders in the hospitality industry.
Vianney Meynier, head of department for South Asia – AgroTech and market entry strategy at Business France India, expressed confidence in the positive sentiments and increasing interest among French wine producers for the Indian market.
Tastin’ France is a renowned brand that specialises in promoting wines and spirits; with a growing presence in the international market, it has organised 50 events in 30 countries as of 2023.
The recent South Asia tour proved to be a tremendous success, with participants from eight wine companies and exporters in Colombo and Delhi, and concluded with active participation in the ProWine exhibition in Mumbai.
Notably, out of the 13 producers that took part in the last Tastin’ France showcase in India, five of them have successfully found importers and signed agreements, with the 2023 edition welcoming eight repeat visitors.
UK HNWIs based in India can experience the taste of French wine by using a reliable international payments tool.
Wealthy collectors hoping to indulge in luxury French wine and spirits can use our online money transfer comparison tool to find the best exchange rates available.
