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The year also witnessed Mumbai-based Sun Pharmaceutical continue the tussle for taking over Israeli drug firm Taro, while MNCs struck alliances with Indian companies to capitalise on generics expertise in New Delhi.
Despite the hard times, spirit sales grew over 15 per cent -- about the same it did in 2008 -- to take the market size to about 214 million cases, which excludes country liquor.
In a year that saw inflation touching a 13-year high of 12.82 per cent in August, the 150 million cases beer market grew by 15 per cent, according to All India Breweries Association figures. The wine segment, which has a total market size of around 1.5 million cases, posted even a higher growth rate of 30 per cent, as per International Wines and Spirits Record, while other alcoholic beverages, with a market size of 190 million cases, grew at 15 per cent.