ISWAI presents reporton AlcoBev sector

The report delves into critical aspects, insights and contributions of the AlcoBev sector to the state of Punjab and the nation, such as its economic contribution, consumption pattern, and contribution to allied sectors like agriculture, tourism etc

The members of International Spirits and Wines Association of India (ISWAI), the apex body of the premium AlcoBev sector, presented its report titled “Economic Value of the Indian Alcoholic Beverage Industry” to Vikas Pratap, principal secretary and financial commissioner, taxation, Punjab, and Varun Roojam, excise commissioner, Punjab.

AlcoBev industry is the economic engine of the country and the state, and it is, thus, essential that relevant stakeholders recognise the economic contribution of our sector, says ISWAI CEO Nita Kapoor. (HT File)

The report delves into critical aspects, insights and contributions of the AlcoBev sector to the state of Punjab and the nation, such as its economic contribution, consumption pattern, and contribution to allied sectors like agriculture, tourism, etc.

ISWAI CEO Nita Kapoor said, “The AlcoBev sector contributes significantly to the economy both in terms of enabling growth and providing jobs in Punjab. AlcoBev industry is the economic engine of the country and the state, and it is, thus, essential that relevant stakeholders recognise the economic contribution of our sector. A progressive excise policy announced by the Punjab government has led to unlocking the excise revenues for the state.”

Talking about the illicit liquor manufacturing and its trade Nita Kapoor said, “India is the illicit alcohol capital of the world and counterfeit accounts for 25% of the industry volumes as per industry sources. This is a challenge that the states of UP, Maharashtra and Punjab continue to address with strict enforcement and penalties.”