Expressing confidence in India’s long-term growth prospects, Someshwar said the country’s next phase of economic expansion would create enduring opportunities for companies that combine scale with agility, ambition with discipline, and growth with responsibility, according to the company’s latest annual report.
“India is already the world’s largest whisky market and is increasingly emerging as a source of innovation and premium brands recognised well beyond its borders,” he said, addressing the company’s shareholders.
Someshwar said the company is particularly encouraged by the structural shift taking place in the Indian alcoholic beverages market, where consumers are not only trading up to premium brands but are also engaging with them in new ways.
Someshwar said India remains one of the most attractive consumer markets globally and is poised to become a major growth engine for premium alcoholic beverages, supported by rising aspirations, favourable demographics and an increasing preference for premium products.
He added that Diageo India is well-positioned to capitalise on these trends and contribute to the evolution of the country’s premium alcobev market.
“Our confidence is grounded not only in the strength of the market opportunity, but in the capabilities we have built over time- a portfolio spanning multiple consumer occasions, deep distribution reach, strong execution capabilities, and an increasingly premium and innovation-led brand mix,” he said.According to Someshwar, India is not one consumer market, but “it is three”.
“A vast aspirational base seeking affordable access to better quality. A growing middle class premiumising with confidence. And an affluent segment demanding luxury experiences and repertoire variety,” he said.
Someshwar noted that India is best understood as “a portfolio of states” and “a portfolio of markets” rather than a single market, each with its own policy environment and pace of development, requiring the company to navigate complexity with agility while staying focused on its core priorities.
On the trade front, he described the India-UK Free Trade Agreement as a potentially transformative development for the category. Lower tariffs on Scotch whisky are expected to improve affordability for consumers, aid premiumisation and generate cost benefits through reduced import duties on bulk Scotch over time, he said.
He added that despite near-term regulatory headwinds – including steep excise duty hikes in Maharashtra – the structural drivers underpinning India’s consumption story remain intact, with several states, including Andhra Pradesh, Uttar Pradesh, Karnataka, Jharkhand, Rajasthan and Madhya Pradesh, delivering strong growth and progressive policy reforms.
Looking ahead, Diageo India plans to continue strengthening its premium portfolio, expanding route-to-market capabilities, improving supply chain resilience and accelerating digital and data-led interventions.
The company also expects technology, including artificial intelligence and advanced analytics, to play a larger role in enhancing decision-making and operational efficiency across commercial and supply chain functions.