Overview: The Indian spirits market is diversifying beyond whisky, with the Tequila segment soaring by 66% in value and 34% in volume last year. Maya Pistola launched in 2022 using Agave Americana grown in the Deccan Plateau, while United Spirits took a minority stake in the brand’s parent company in 2024 to strengthen its play in the premium craft segment.
The Full Story
While whisky remains the leading spirit in terms of volume, India is starting to show a penchant for drinks other than brown spirits, from gin and vodka to Tequila. Unlike other markets where premiumisation is slowing down, India is embracing high-end offerings and diversifying beyond whisky. According to IWSR figures, the spirits category in India rose by 6% in value last year, and by 4% in volume. The category is still set to grow, with IWSR predicting a 3% compound annual growth rate (CAGR) in volume, and a 4% value rise from 2025 to 2030.
The biggest driver is the growth in consumers, both new legal-drinking-age consumers and triallists. These groups have growing disposable income, and are exhibiting inquisitiveness. Brand owners, importers and distributors are putting more products in front of them through evolving routes to market. Free trade agreements (FTAs), like the recent India-UK deal, will make imported products such as whisky and gin more affordable. Holway has also noticed signs that significant changes to excise regimes could have positive impacts on choice as well.
Maya Pistola was launched in 2022, as there was a dearth of good brands at the time. The founder notes that the industry had very few quality brands with 100%-agave products being very underrepresented. Matured in Goa, Maya Pistola is made with Agave Americana grown in the Deccan Plateau in south-central India, harvested at between eight and 14 years. United Spirits took a minority stake in Maya Pistola’s parent company in 2024 aiming to strengthen premium craft segment with Indian provenance, which has seen good traction among local consumers.
Production & Profile
The brand is crafted using Agave Americana grown in the Deccan Plateau in south-central India. The agave is harvested at between eight and 14 years before maturation. The spirit is matured in Goa, a major tourist spot that has become the hub for craft spirits in India.
Brand & Industry History
Historically, India has not been known as a country that makes premium products, but every spirits category in India has premiumised over the past five or six years. There is a lot more attention to detail to how things are produced and where. The absolute confidence in the provenance of building spirits from India is what is truly driving the premiumisation journey in the country. United Spirits took a minority stake in Maya Pistola’s parent company in 2024 aiming to strengthen its play in the premium craft segment with Indian provenance.
What This Means
IWSR has touted Tequila as a growth area. The segment soared by 66% in value last year, and rose by 34% in volume. Its growth is set to be slower but in the double-digit range in the next five years, with a 13% volume gain and a 15% value rise (2025-2030). The UK-India FTA serves as a catalyst for the enterprise by combining tariff drops on bulk grain spirits with localised bottling models. Consolidation wave will continue for a bit as new gins start coming into the country because of the UK-India trade deal, with better pricing.
Consumer Takeaway
This bottle offers an Indian provenance agave spirit matured in Goa. The category benefits from its perception of being a low-calorie, cleaner drink. While it remains a market dominated by whisky, India is starting to show a penchant for drinks other than brown spirits, opening up huge opportunities for different categories to grow.
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