Nikhil KamathEp #18 | WTF, Alcohol is a $70B Business in India? | Nikhil Kamath explores Gaps & Opportunities
Episode Details
EPISODE INFO
- Released
- July 3, 2024
- Duration
- 3h 12m
- Channel
- Nikhil Kamath
- Watch on YouTube
- ▶ Open ↗
EPISODE DESCRIPTION
India has had a long, colourful, and mixed history with Liquor over the centuries, with ancient fermented drinks and traditional liquors like feni and toddy. India today, holds the third-largest market for alcoholic beverages globally, which is remarkable given the challenging business environment of red tape-ism, varying excise duties across states and much more. In episode #18 of “WTF is” Podcast, we have Founders of different sectors in the Liquor Industry of India. Abhishek Khaitan, MD of Radico Khaitan, One of the oldest and largest manufacturers of Indian Made Foreign Liquor (IMFL) in India; Minakshi Singh, Co-founder of SideCar, India’s only entry in the top 100 of the World’s Best Bars; Shuchir Suri, Co founder of Gin Explorer’s Club, India’s biggest gin festival with a footfall of over 100,000 people per edition; and Suraj Shenai, Founder of Goa Brewing Co, crafting ‘non-conformist, modern’ beers that challenge the traditional dominance of German and Belgian flavours. If Euphemism for patriotism is outrightly sold to people, across the world in different pockets, can the same brand-building tactics work for Indian Products too? For additional insight into this industry, here’s a link to explore some of the resources provided by the guests of this episode https://nksqr.notion.site/Additional-Resources-0e194bb2bb4d407bb5dfd63051a84416?pvs=4 #NikhilKamath Co-founder of Zerodha, True Beacon and Gruhas Host #wtfiswithnikhilkamath #wtfispodcast Twitter: https://www.twitter.com/nikhilkamathcio LinkedIn: https://www.linkedin.com/in/nikhilkamathcio Instagram:https://www.instagram.com/nikhilkamathcio Facebook: https://www.facebook.com/nikhilkamathcio #AbhishekKhaitan MD of Radico Khaitan Twitter - https://x.com/radicokhaitan LinkedIN - https://www.linkedin.com/in/abhishek-khaitan-95098bb4/ Instagram - https://www.instagram.com/abhishek40/ Facebook - https://www.facebook.com/abhishek.khaitan.12 #MinakshiSingh Founder of SideCar, Cocktails & Dreams Instagram - https://www.instagram.com/min.drinks #ShuchirSuri Founder of Jade Forest, Anthem, Gin Explorers Club LinkedIN - https://www.linkedin.com/in/shuchir-suri-058251b/ Instagram - https://www.instagram.com/shuchirsuri Facebook - https://www.facebook.com/shuchir #SurajShenai Founder of Goa Brewing Company Twitter - https://x.com/goabrewingco LinkedIN - https://www.linkedin.com/in/surajshenai Instagram - https://www.instagram.com/surajshenai/ 00:00:00 - Intro 00:01:30 - Minakshi’s Intro: Part Time Job turned Full time Passion 00:06:00 - Change of course: Bartender turned Marketer 00:08:08 - Big break: Joining World’s biggest Liquor companies 00:08:40 - Building her own bar - Cocktails & Dreams 00:11:53 - Elements of a bar experience | SideCar #1 Bar in India 00:14:32 - Suraj’s Intro: Growing up in Goa 00:16:38 - Learning the ropes | Understanding India’s drinking culture 00:20:00 - Story of the beginning of Goa Brewing Co 00:21:40 - What is Indian Pale Ale? | Hops 00:25:20 - Obsession to start something new | Premiumising Quality 00:32:38 - Shuchir’s Intro: Love for Hosting Events 00:34:00 - Starting a company at 18: Early success to Downfall 00:37:00 - Joining a company | Understanding how companies work 00:38:35 - Starting the Gin Explorers Club, Food Talk India, Anthem, Jade Forest 00:42:10 - Abhishek’s Intro | Innate Passion for Liquor 00:45:10 - Joining Family Business | Overcoming Failures, Observing Trends 00:54:00 - Promoting Indian Craftsmanship Globally 00:58:50 - Objective of this podcast 00:59:34 - Size of the Liquor Industry in India | Psychology of consumption 01:06:32 - Alcohol: Is it good/ bad for you? 01:09:15 - Market Share and Revenue in India 01:10:47 - Steps to Start a Liquor brand | Primary, Secondary, Tertiary Steps 01:26:00 - Opportunities in the Current Trends | Category, Product, Price 01:54:26 - Food Break 01:55:05 - Distribution | Hacks, Storytelling, Picking a Niche 02:12:20 - Marketing Budgets in different states in India 02:15:20 - Revenue Generation Tax in states through liquor 02:17:30 - Nikhil on Long term Investment in Liquor Companies In India 02:24:32 - Celebrity Led Liquor Brands: Do they work? 02:31:46 - Are Social Media Influencers effective in Advertising? 02:35:35 - Is it possible to discern between Good V/s Premium? 02:40:40 - Is Patriotism a good backstory for a product? 02:44:35 - Is Hangover equally proportionate to % of Alcohol? 02:50:05 - Potential of Pre-ready Beverages, Wine store, Online Delivery 03:00:40 - Indian Brands vs International Brands wrt Import Tax 03:02:55 - Registration of Liquor Brands | Excise Duty, Licenses, Challenges 03:10:57 - WTFund Disclaimer: Alcohol consumption is injurious to health. No participants in this video promote alcohol consumption and strongly discourage underage, binge, and careless drinking. All panelists in this show express their own personal views, which do not necessarily reflect the views of the producers or promoters. Please drink responsibly.
SPEAKERS
Nikhil Kamath
hostMinakshi Singh
guestShuchir Suri
guestSuraj Shenai
guestAbhishek Khaitan
guest
EPISODE SUMMARY
In this episode of Nikhil Kamath, featuring Nikhil Kamath and Minakshi Singh, Ep #18 | WTF, Alcohol is a $70B Business in India? | Nikhil Kamath explores Gaps & Opportunities explores inside India’s $70B alcohol ecosystem: bars, brands, regulation, growth bets The episode brings together four insiders—Minakshi Singh (SideCar/Cocktails & Dreams), Suraj Shenai (Goa Brewing Co.), Shuchir Suri (Gin Explorers Club/Anthem), and Abhishek Khaitan (Radico Khaitan)—to explain how India’s alcohol market works and where entrepreneurs can build careers or companies.
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