NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News  » Business » Investment in wine industry up 74%

Investment in wine industry up 74%

June 20, 2007 11:10 IST

Investment in Maharashtra's wine industry has increased by 74.31 per cent to Rs 247.71 crore (Rs 2.477 billion) in the fiscal year 2006-07, compared to the previous fiscal, with the establishment of eight new wineries.

Eight new wineries, including six in Nashik and one each in Pune and Buldhana, were set up in Maharashtra in the fiscal year 2006-07.

Around Rs 87.40 crore (Rs 874 million) were invested in the state wine industry during the, recording 74.31 per cent rise as compared to that of last year. In the FY 2005-06, around Rs 50.14 crore (Rs 501.4 million) were invested in the state wine industry with the establishment of 7 new wineries. Today, the state has 52 wineries.

Six new wineries, which were set up in Nashik district in FY 06-07, include India Food Company Pvt Ltd, Sunmeera Winery Pvt Ltd, Balaravi Winery Company Pvt Ltd, Mercury Winery Pvt Ltd, A D Wines and Dindori Winery Pvt Ltd. Swirl Wines was set up at Narhe in Haveli tehsil of Pune district, while Aditya Winery was set up at Bhankhed in Chikhali tehsil of Buldhana district.

The state's grapewine industry got a big boost with the coming into effect of Maharashtra grape processing industrial policy in 2001. The number of wineries in Maharashtra, which were only four in 2001, has reached up to 52 by March 2007.

The total investment in the state wine industry has also tripled in the last four years from Rs 77.75 crore (Rs 777.5 million) in FY 2003-04 to Rs 247.71 crore in FY 2006-07.

Total investment in the state wine industry was Rs 110.17 crore (Rs 1.101 billion) in FY 2004-05 and Rs 160.31 crore (Rs 1.603 billion) in FY 2005-06.

There are 54 wineries across the country. Out of them, 52 wineries are in Maharashtra, including 28 wineries in Nashik district, 8 in Sangli, 9 in Pune, 3 in Solapur, 2 in Buldhana and one in Usmanabad.

Today, Maharashtra accounts for almost 94 per cent of the country's wine production. In FY 2006-07, the total wine production of grape wine in India was 1.42 crore (14.2 million) litres, out of which Maharashtra's share was 1.32 crore (13.2 million) litres.

Tushar Pawar in Mumbai/ Nashik