"The wine market in India is growing at the rate of 100 per cent annually and looking at the preference of people for a quality wine we will introduce 20 more brands over the next one year," Don Cairns, Australian Trade Commission Consul General and Trade Commissioner, Western India told PTI.
At present, there are about 6 to 7 Australian wine brands in the country with a turnover of about Rs 3 crore (Rs 30 million), which was expected to double to Rs 6 crore (Rs 60 million) by the end of the current fiscal, he said.
"Our current trade in wine is very small due to high import duties averaging 260 per cent, which increases the cost of a $2 wine bottle to $ 20 per bottle," he added.
Australian companies would soon add new products including breakfast cereal, special canned sauces and jams to their existing range of offerings.
"Our present market in foods category is Rs 4 to 5 crore (Rs 40 to 50 million) per month, which we expect to grow at a rate of 25 per cent," he said.
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