Overview: The Indian spirits market is demonstrating significant growth, with the Tequila segment surging in value and volume while the broader category rises by 6% in value last year. Maya Pistola, launched in 2022, utilizes Agave Americana harvested at 8-14 years and has attracted investment from United Spirits, Diageo’s Indian arm, which took a minority stake in the parent company in 2024.
The Full Story
While whisky continues to dominate India as the leading spirit in terms of volume, the market is diversifying beyond brown spirits. The spirits category in India rose by 6% in value and by 4% in volume last year, supported by a booming cocktail culture and flavour innovations. Unlike mature markets where premiumisation is slowing down, India is embracing high-end offerings and opening up huge opportunities for different categories to grow. IWSR figures indicate the category is still set to grow, with predictions of a 3% compound annual growth rate in volume and a 4% value rise from 2025 to 2030.
Tequila has emerged as a specific growth area within this diversification. The segment soared by 66% in value last year and rose by 34% in volume. Jason Holway, IWSR senior research consultant, notes that the biggest driver is the growth in consumers, both new legal-drinking-age consumers and trialists, who exhibit inquisitiveness and growing disposable income. United Spirits aims to strengthen its play in the premium craft segment with an Indian provenance, which has seen good traction among local consumers. The brand also attracted investment from Diageo’s Indian arm, United Spirits, which in 2024 took a minority stake in Maya Pistola’s parent company.
Production & Profile
Maya Pistola is made with Agave Americana grown in the Deccan Plateau in south-central India. The agave is harvested at between eight and 14 years. Matured in Goa, the brand represents an Indian riff on agave spirits. Founder Rakshay Dhariwal describes the segment as the “new gin,” noting that agave spirits are more regularly introduced to India, similar to the gin boom.
Brand & Industry History
Maya Pistola was launched in 2022 as there was a dearth of good brands at the time. Founder Rakshay Dhariwal stated that the industry had very few quality brands with 100%-agave products being very underrepresented. United Spirits took a minority stake in Maya Pistola’s parent company in 2024. With this investment, United Spirits said it aims to strengthen its play in the premium craft segment with an Indian provenance, which has seen good traction among local consumers. 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.
What This Means
Dhariwal believes those drinking 100% agave are in the “A-plus category,” the movers and shakers of the country in terms of economic status, but that this could filter down to the masses eventually. He describes the segment as the “new gin,” warning that while lots of brands have failed now and exited the market, he can see that happening with agave now. IWSR forecasts gin in India to grow at a CAGR of 5% in volume and 7% in value between 2025 and 2030. Regarding Indian gins, Vikram Damodaran, chief innovation officer of Diageo India, notes that the penetration of gin is far lower compared with vodka. He foresees a two- to three-year cycle for gin to come back after a period of consolidation.
Dhariwal believes the Tequila category has the potential to go mainstream in India, but it might take years. He agrees that the largest challenge is education. The rise of cocktail culture, premium bars, modern retail formats, international travel exposure, and evolving consumer tastes are creating favourable conditions for these categories to grow faster than the overall industry. Radico Khaitan notes that the boom in cocktails is driving growth for segments like vodka, gin, and agave spirits.
Consumer Takeaway
This bottle offers a premium craft spirit with Indian provenance, specifically utilizing Agave Americana harvested at 8-14 years. Matured in Goa, the product aligns with the trend of premiumisation in India where consumers are increasingly seeking brands that embody a genuine sense of place and craftsmanship. The brand targets the on-trade consumption, particularly cocktails like the Picante, which is described as a spicy twist on the Tommy’s Margarita.
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