The Italian wine industry is
eyeing India as a major market for its offerings, with the
two-day 'Vinitaly' India trade fair Roadshow set to open in New
Delhi on Saturday.
Prominent Italian wine makers are participating in the Roadshow
including group attendance by Piemonte Land of Wine (on behalf
of 14 wine consortia in Piedmont), Italia del Vino Consorzio (23
companies from 16 regions), Angelini Wines & Estates (with
winemaking estates in 4 regions) and Uvaitaly (11 producers from
5 regions).
B2B meetings are scheduled during the Roadshow with operators,
importers, liquor store and HoReCa managers profiled by the
Indian Chamber of Commerce. The participants will be officially
invited to attend the 57th Vinitaly in Verona, Italy between 6-9
April.
The Roadshow is being organized by Veronafiere in collaboration
with the Indian Chamber of Commerce with the support of the
Italian Embassy in New Delhi.
"Against the background of rapidly escalating trade wars, we
look with interest at the strategic partnership between India
and the European Union announced a few days ago," said the
President of Veronafiere S.p.A., Federico Bricolo.
"Italian wine sales in India are currently marginal compared to
the overall business for our products around the world, which in
2024 came to more than 8 billion dollars in exports. Yet, we are
convinced that India may well become an increasingly important
market for a drink such as wine which has always been a symbol
of moderate consumption of alcohol," Bricolo shared. He informed
that the Unione Italiana Vini-Vinitaly Observatory estimates
growth in wine consumption in India at 40 per cent between 2024
and 2028. "Thanks to the new bilateral agreements, this forecast
may even turn out to be even better," Bricolo added.
General Manager of Veronafiere S.p.A., Adolfo Rebughini said
Vinitaly represents Italian wine and Italy as the main
winemaking country in the world in terms of variety.
"Our trade fair is the world's leading event promoting Italian
wine, attracting 90,000 sector operators, with more than
one-third from 140 countries, on average every year in Verona,"
Rebughini said, informing that Indian buyers are already regular
guests at Vinitaly, as more than one hundred attended the last
edition of the trade fair.
The two-day Vinitaly India Roadshow event was preceded by a gala
dinner on Friday evening at the Italian Embassy in New Delhi,
where speeches were made by Ambassador Antonio Bartoli and Vas
Shenoy, Chief Representative for the Italy Indian Chamber of
Commerce.
The market for Italian wine in India has a retail value of USD
33 million (including taxes) for an import market share of
almost 17 per cent.
Italy is the third largest supplier by value in the Indian wine
market worth USD 418 million dominated by domestic wines which
account for a 50 per cent share. Italy ranks second in the
imported wine product volumes, with approximately one million
litres.
The Uiv-Vinitaly Observatory based on data suggests that Italian
sparkling wine is enjoying strong growth, with sales likely to
double by 2028 up to USD 20 million.
These figures are likely to be upgraded post the free trade
agreement announced by Indian Prime Minister Narendra Modi and
European Commission President Ursula von der Leyen, which is
expected to be finalised and signed by the end of this year.
photo: Vinitaly 2024 in Verona
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