Ep #18 | WTF, Alcohol is a $70B Business in India? | Nikhil Kamath explores Gaps & Opportunities
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- Опубліковано 9 лип 2024
- India has had a long, colourful, and mixed history with Liquor over the centuries, with ancient fermented drinks and traditional liquors like feni and toddy. India today, holds the third-largest market for alcoholic beverages globally, which is remarkable given the challenging business environment of red tape-ism, varying excise duties across states and much more.
In episode #18 of “WTF is” Podcast, we have Founders of different sectors in the Liquor Industry of India. Abhishek Khaitan, MD of Radico Khaitan, One of the oldest and largest manufacturers of Indian Made Foreign Liquor (IMFL) in India; Minakshi Singh, Co-founder of SideCar, India’s only entry in the top 100 of the World’s Best Bars; Shuchir Suri, Co founder of Gin Explorer’s Club, India’s biggest gin festival with a footfall of over 100,000 people per edition; and Suraj Shenai, Founder of Goa Brewing Co, crafting ‘non-conformist, modern’ beers that challenge the traditional dominance of German and Belgian flavours.
If Euphemism for patriotism is outrightly sold to people, across the world in different pockets, can the same brand-building tactics work for Indian Products too?
For additional insight into this industry, here’s a link to explore some of the resources provided by the guests of this episode
nksqr.notion.site/Additional-...
#NikhilKamath Co-founder of Zerodha, True Beacon and Gruhas
Host #wtfiswithnikhilkamath #wtfispodcast
Twitter: / nikhilkamathcio
LinkedIn: / nikhilkamathcio
Instagram: / nikhilkamathcio
Facebook: / nikhilkamathcio
#AbhishekKhaitan MD of Radico Khaitan
Twitter - x.com/radicokhaitan
LinkedIN - / abhishek-khaitan-95098bb4
Instagram - / abhishek40
Facebook - / abhishek.khaitan.12
#MinakshiSingh Founder of SideCar, Cocktails & Dreams
Instagram - / min.drinks
#ShuchirSuri Founder of Jade Forest, Anthem, Gin Explorers Club
LinkedIN - / shuchir-suri-058251b
Instagram - / shuchirsuri
Facebook - / shuchir
#SurajShenai Founder of Goa Brewing Company
Twitter - x.com/goabrewingco
LinkedIN - / surajshenai
Instagram - / surajshenai
00:00:00 - Intro
00:01:30 - Minakshi’s Intro: Part Time Job turned Full time Passion
00:06:00 - Change of course: Bartender turned Marketer
00:08:08 - Big break: Joining World’s biggest Liquor companies
00:08:40 - Building her own bar - Cocktails & Dreams
00:11:53 - Elements of a bar experience | SideCar #1 Bar in India
00:14:32 - Suraj’s Intro: Growing up in Goa
00:16:38 - Learning the ropes | Understanding India’s drinking culture
00:20:00 - Story of the beginning of Goa Brewing Co
00:21:40 - What is Indian Pale Ale? | Hops
00:25:20 - Obsession to start something new | Premiumising Quality
00:32:38 - Shuchir’s Intro: Love for Hosting Events
00:34:00 - Starting a company at 18: Early success to Downfall
00:37:00 - Joining a company | Understanding how companies work
00:38:35 - Starting the Gin Explorers Club, Food Talk India, Anthem, Jade Forest
00:42:10 - Abhishek’s Intro | Innate Passion for Liquor
00:45:10 - Joining Family Business | Overcoming Failures, Observing Trends
00:54:00 - Promoting Indian Craftsmanship Globally
00:58:50 - Objective of this podcast
00:59:34 - Size of the Liquor Industry in India | Psychology of consumption
01:06:32 - Alcohol: Is it good/ bad for you?
01:09:15 - Market Share and Revenue in India
01:10:47 - Steps to Start a Liquor brand | Primary, Secondary, Tertiary Steps
01:26:00 - Opportunities in the Current Trends | Category, Product, Price
01:54:26 - Food Break
01:55:05 - Distribution | Hacks, Storytelling, Picking a Niche
02:12:20 - Marketing Budgets in different states in India
02:15:20 - Revenue Generation Tax in states through liquor
02:17:30 - Nikhil on Long term Investment in Liquor Companies In India
02:24:32 - Celebrity Led Liquor Brands: Do they work?
02:31:46 - Are Social Media Influencers effective in Advertising?
02:35:35 - Is it possible to discern between Good V/s Premium?
02:40:40 - Is Patriotism a good backstory for a product?
02:44:35 - Is Hangover equally proportionate to % of Alcohol?
02:50:05 - Potential of Pre-ready Beverages, Wine store, Online Delivery
03:00:40 - Indian Brands vs International Brands wrt Import Tax
03:02:55 - Registration of Liquor Brands | Excise Duty, Licenses, Challenges
03:10:57 - WTFund
Disclaimer:
Alcohol consumption is injurious to health. No participants in this video promote alcohol consumption and strongly discourage underage, binge, and careless drinking. All panelists in this show express their own personal views, which do not necessarily reflect the views of the producers or promoters. Please drink responsibly.
I don’t know if it’s just me but this felt like the most CHAOTIC episode in the WTF series. Everyone speaking at the same time happened a lot of times. Just an opinion. Love the content as always!
Kind of apt for an alcohol episode. That's what happens when you sit in a circle and drink.
Maybe cause first time someone was genuinely giving it out all the relevant info?
Lol....As someone who is from the industry I can tell you; that if you were to put a couple of different people from this industry on the table, the discuss is always a chaos, but there is always a conclution by the end of dinner.
It's the Alcohol that is speaking
What can you expect from a bunch of alcoholics? 😅
No offense, but Meenakshi speaks over others to the extent that it becomes frustrating
Yess. She just keeps poking all the time
Exactly bro🤦🏻♂️
Ladies 😂😂
So annoying
She did speak over others, but I felt like she was adding something on the top and not just saying something for sake of it. Others are also interrupting here and there. I’m just half way through the episode, so I could be wrong if it happens later. :)
45:31 turnover of 70cr in 1996 is crazy for me to digest,every episode i feel one step down towards feeling the poverty and half a step up towards building a better life
😂🤣🤣💯
Broo everytime I see this I kind of just stop myself applying for a BPL card
Feels like i won't ever get the money cause it's kind of a necessity for being generational rich but (sighs) I can just gather knowledge :)
You should have brought inn vijay malya for this podcast 🤣
I think he still is the biggest name, u can see how much KF is being mentioned
He would have added a lot of value tbh. Kingfisher is on a pedestal when it comes to beet business.
Alcohol is good 😂, i mean come on ...for cash you can lie...its good 😂
Naval Ravikant 💯
Also add Peter Theil with Naval Ravikant ...
And also Vinod Khosla please ...
Balaji Sreenivasan
RADICO guy isn’t spilling much of his beans. 😊
also bring Naval Ravikant sir humble request from your fan !!!
Yeah this one is necessary, I am eagerly waiting for this :)
He lives in Bay though
Must
Must 😊
Yessss I also want Navalll
Definitely the most Chaotic of all the episodes, but when you look closely it's not just Meenakshi. It was both Suchir Suri and Meenakshi with Abhishek at times.
Although all of them do have something to offer individually.🎉
I mean no offense, but Meenakshi tends to interrupt others so much that it becomes quite frustrating.
I feel Abishek from Radico does that too
Correct and she makes what someone says sound trivial
That's how drunk people talk
Same feeling brooo
@@amitkulkarni5833 Kulkarni Sahab🙏
Meenakshi is very insightful and full of ideas but why speak over others and ruin our experience? Too many times (for the first time) when I wanted to just shut it off.
nerves likely
On point
Totally man
I’m beginning to understand the goal behind these interviews. Typically, one of the participants is from a company that Nikhil has invested in that is already listed or that is likely to be listed on the stock exchange in the future. The conversations cover both the industry and the company, providing valuable insights that we wouldn't normally obtain without extensive research. If the company looks promising based on these discussions, we might consider buying its stock. I have put Nazara and Radico on my watchlist now. 😃
right
Yes, consumer brands also - after seeing them talk so much, I have become more aware of them and occasionally support them. COnversely, I would never recommend Upgrad to anyone because of this podcast
Ather, rare rabbit....
Petition to have Agri tech entrepreneurs on the forum !! Wish Agri tech farming sector becomes this cool thing of the future in India ! Giving farmers & tech (food to flower to Agri trucking business) would be a great platform on your show, can start a massive Trend amongst the young and the older genz 🌾 🙌🏽🌺🇮🇳
By Harvard Health -
The second study, also published in The Lancet, was even bigger. It examined data from hundreds of studies and other sources (including sales of alcohol, home-brewed alcoholic beverage consumption, and even estimates of tourist consumption) in 195 locations. And it analyzed the overall health impact related to alcohol consumption, including death and disability due to automobile accidents, infectious diseases, cancer, and cardiovascular disease. It concluded that the best option for overall health was no drinking at all. Of note, the definition of "a drink" in this study was 10 grams of alcohol - that's 30% less than a standard drink in the US, but 25% more than a standard drink in the UK.
Here are more details about what they found:
Alcohol use was the seventh leading cause of death and disability worldwide in 2016; about 2% of female deaths and 7% of male deaths (2.8 million deaths in total) were considered alcohol-related.
For those ages 15 to 49, alcohol was the leading risk factor for death and disability worldwide. Tuberculosis, road injuries, and self-harm were the top causes (the risk of each of these conditions is higher if you drink enough).
For older adults, cancers related to alcohol use were the top causes of death.
In general, health risks rose with rising amounts of alcohol use. However, some protective effect related to light drinking (less than one drink/day) was observed for heart disease and diabetes in some groups. For example, the risk of heart attack and related cardiovascular disease was 14% lower for men drinking 0.8 drinks/day, and 18% lower for women drinking 0.9 drinks/day compared with none.
The full read- www.health.harvard.edu/blog/alcohol-and-your-health-is-none-better-than-a-little-2018091914796
Rajeev Samant from Sula would have been a great addition to the panel.
Great podcast!
Meenakshi ruined whole podcast experience all together….
I think this my 2nd most favorite episode after the VC episode. Shuchir and Suraj had a lot of good points to add but just stopped because they did not want to speak over anyone.
the editor making sure we know what they drinking is honestly hilarious 🤣🤣
Minakshi's continous interruptions and her eyeroll at 2:42:44, so frustrating!
more like abhishek interrupting
I don’t know how Meenakshi socialized with customers given that she doesn’t let the other person speak
Dude she spoke, stop criticizing her for no reason
@@pranay3582 she is interrupting others and not letting others speak
The point is drug dealer never consumes drug
Hey guys ! myself Govind .As a industry expert and bar owner i can say that
Alcohol industry in india present significant opportunities for the growth and the profitability,
As a bar owner , staying attuned to consumer preference and continuously innovating will be crucial to stying ahead in this DYNAMIC INDUSTRY ❤❤
It's by far the most chaotic podcast hosted by Nikhil. Minakshi was insightful but interrupted the flow of conversation so many times. Everyone was talking over each other and the structure got lost. I have very few takeaways from this podcast and it felt like everyone is just talking about their brands and uber-level gyan. Even though, I don't drink - I wanted to get deep insights from industry personnel but unfortunately, this podcast missed it.
i dont think they are called often for podcast because owning a alcohol business is still a taboo.
@@poo0593 True names from these industry were always unknown and not social , also they are from the alcohol industry so we had to expect some chaos.
Meenakshi was so irritating 😡
Speaking over everyone. 🤦🏾♂️
Great to be a part of this WTF community ,great insights as well .
which podcast u were in?
That one was very chaotic and Meenakshi was just intolerable for me. I guess she is high due to her iced tea.
What I like is that Nikhil always talks about basics and that too in a tangible manner (0 to 1)
Also, People talking about interruptions and all, guys it is what it is , he is doing his best to bring this on one table , can't teach them communication eticates, it is raw so pick the good part and move
Agree with your point. We need stop expecting podcasts to be shown how we want and rather accept it raw.
Love it when Nikhil says let's do 5 minutes of introduction each.. and after over 50 mins the introductions are done❤
the way you are helping todays youth with all the things which you are doing is really incredible . thank you so much
Petition to bring kunal shah on podcast!
Lol😂
Yes please!!
Nikhil we need this come on
hell nah don't bring him he is just loosing money he did not achieved anything else than loosing investors money no real talk and no good business to be honest
Pls bring kunal
Petition to bring ravishastri for this video on alcohol
😂
So refreshing to see Minakshi’s take on everything - answers always on the money, and such sharpness and wit. Trying to get a word in when everyone has so much to share can be hard, but at least we heard from her!
Petition for Raj sabha membership for Nikhil Kamath
We need more people like you where policies are made
Please do it twice in a month. We enjoy it a lot and also get a tremendous amount of knowledge.
you know this industry is where i want to do business and you make a whole podcast on it . thank you so much nikhil its one of very important and helpfull video for me .
Weekend is perfectly set now with Nikhil's podcast to watch💯
Good reason to bunk morning classes tomorrow.
the amount of passion all these people have who come on this podcast is insane 🔥
Suraj Shenai has my respect for his humility. He always paved way for others to express their opinions, whenever they overshadowed him!
'it is only his electrolytes'
got me 😂😂
Honey wake up..
Nikhil’s 3 hour long podcast just dropped..
Hey, Nikhil currently i am pursuing CFA and very much interested to know about wealth management business and AMC business what opportunities we have like Quant Analyst and all other competitive roles in industry and what are business opportunities in this sector and really want to know about true beacon business 😅Bro you are killing it with the WTF level of clarity and understanding we as listeners get you have no Idea Keep uploading such episodes Peace ✌
BTW !!! Being greedy pls take my request into consideration 😇
Need this
Same.
Eight finger Eddie is such an underated beer!!! It is literary a top tier international level beer!!!!!
what I am particularly learning from these podcasts is that if you want you succeed in a industry you must have knowledge about it that you can talk and talk about it for hours and hours. no question asked is unanswered.
After all podcast I feel like nikhil is role model for me like tata heritage to our 1950 era
Never seen this business the way it is...great insights
2:17:30 Best part of the podcast was when Nikhil starts speaking
Really appreciate how Nikhil kept pushing for specificity and names and how to actually get in touch with the right people! Great job!
2:31:11 true an explorer trying into your regularly might not be a huge conversation because of acquired taste phenomena, if they can like your product instantly like if it’s pizza, chocolate, etc or some other consumer good it may happen but also how many people are explores most fear of losing money or fear of having a bad experience.
Damnn, the Chill its his electrolytes, got me!
I'm favoured, Getting my own Truck has always been my Dream for my business. I just acquired 2 recently, earning $32K weekly has been really helpful. I can now give back to the locals in my community and also support Charity Organizations. I really appreciate your videos
As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.
I'd really like to get into crypto Investing. I have about $145k set aside, but I don't know anything about this market. Would you please provide the best approach to make money as well as a trustworthy resource for advice? Your help would be greatly appreciated.
The very first time we tried, we invested $1000 and after a week, we received $7500. That really helps us a lot to pay up our bills.
Still regret that I sold my bitcoin early last year, even after my colleague insisted we shouldn't. Please Is Bitcoin still a safe buy to outperform the market this year? I still kept my money in the money market and with over $120k maturing soon, I plan investing well in it. Here for ideas
As a beginner investor, it's essential for you to have a mentor to keep you accountable. Myself, I'm guided by Deborah Davis. A widely known crypto consultant
Loved this episode. As a young brand owner of Terry Sent Me! Gin, would have really liked to see a young spirit brand owner share their experience as well. Cheers 🍻
i found the podcast very informative not only about alcohol but about any consumer product and i really liked the food prep part.
Which doctor says a glass of wine or 60 ml is good for heart ? Can he provide some literature supporting this ? For the effect of alcohol on health go and check out Huberman's podcast. @Nikhil probably you should have corrected him!
Nikhil put my favourite subject ALCOHOL on table😂
As always, One of the best podcast from India. I listen to these on repeat.
Many of us including me say don't worry about society, follow your passion, and have guts when people judge but Meenakshi is the living example of it. Kudos girl more power to you!! I kind of get the feeling when the family was opposed but really love your attitude! Living your life in a judgemental society needs steel balls😊. you have them
Big fan of ‘Peoples lager’ from the Goa Brewing co. Absoluty love it. ❤
Highly recommended for craft beer lovers
Again, it's only his electrolytes 🤣16:41
This is literally the best place, to learn new things and have new interpretations on every sector, most importantly @nikhil is someone who really believes in the Indian story in terms believing in our own.. this is the new incarnation of SWADESHI movement of MG era.. the VC fund episode and this are true gems, also important for people who are in consulting, this gives u a unique view of ecosystem
This is literally the best podcast from India on YT.
Nikhil is an excellent host for the new age.. a young billionaire who doesn't know the difference between bourbon and scotch. Breaking the biggest myth for an entrepreneur, that you have to be a know it all to execute and make a billion dollars!!Moreover, breaking all the sectors and trying to get technical knowledge and trying to formulate organised business out of them. 👏👏👏💥💥💥
14:30 Guy is from Goa Paengim, He mush have watched drishyam, bhai wo lash mili kya, jisko Ajay Devgan ne gayab karr dia tha?
Drishyam 2 nehi dekha kiya usme bataya gaya hai, lash kama gayi
bro you are just spoiling us with this rich content at this point
What I have learnt is to observe , listening and comprehension skills .
No matter how the group discussion is chaotic or calm , still connected pointers can be made objectively.
Such an insightful episode! Loved it :)
That's def not iced tea 😂. Loved the episode though.
After watching this podcast the people's who have not tasted alcohol till now,may be like we are missing really something, the story telling way and its growth.
1:06:00 I love how they started manipulation and tried to justify alcohol. Love the way they lie coz their bzness depends
This is what this podcasts do...spread misinformatjon
@@riyasinha9940 the world is like this , but u have to learn what u can broo
To all those who cmt till now I never tasted alcohol.if u observe carefully it's conversation is how people talk after drink
It's very interesting that so many people in the comments are saying Minakshi was interrupting. I felt completely other way round, where either Nikhil wasn't addressing questions to her at all or she was struggling to get her voice in. It felt she was getting talked over the most.
It's all perception I think 😅
Thank you Nikhil for this crash course on the Alcohol industry.
EP 18 for 18+
Lol
In Maharashtra it's 25+
@@rishikesh4 pune💀
I've never had alcohol and don't plan to in my life, but the industry sure sounds fascinating.
You should try
Whats your age bro?
loved the table todayy ...... fun + knowledge :)
meenakshi has the ground level experience of , what actually is being cosumed and change of consumption according to time.❤
🎇Please bring Naval Ravikanth, Kunal Shah, Bhavish Aggarwal on same Podcast 🙏
That part where someone mentions how alcohol in moderation is "good" for your health is absolute lie. No amount of alcohol is "safe". Its poison and the only safe amount of this poison is no poison. Ones making billions out of this business can afford best of treatment beyond the imagination of the common man this episode is intended for.
The conversation would have been more interesting if Doctor Abby Philips had been the guest.
Aslo love to see one podcast on indian real-estate market with great leaders.✊✊
Watching from gujarat.
Expecting a WTF series on health and hoping youd call me lol
Health is over isn't it? the suniel shetty episode? i guess you missed the bus
@@satishsubramaniam9932 sunil shetty isn’t a doctor/ pharma Background. They spoke about nutrition. I meant health tech health economics and doctors who are entrepreneurs
@@rushikeshshukla990 Fair enough! valid point
It’s a great podcast. I am also same industry. I know everything about this kind of issues and kind of difficulties in alcohol industry but we love our business
Nikhil , you conduct such talks so beautifully like a professional with timely intervention and thoughtful questions or queries. It is wonderful discussion covering everything about alcohol with timely clarification about the terms being used in the conversation.
Petition to bring Mukesh Ambani
Petetion to bring Kunal shah and Naval Ravikant on the show!🙌🏻
01:07:36 I feel instead of going for pan India or even whole state you should crack a small area like make a group of 10-15 pin codes, advertise extensively hyper local and be THE brand or THE choice of that region then slowly expand, like make a area where engineering students live make something for them and capture that small market...
49:06 I paused the podcast here & did some research on Radico, I found one thing similar in Radico & Tata Skinn the design of their bottle is really captivating, amazing...
I was thinking of a beer brand and u dropped this!😭 Thanks nikhil ❤️
Make a podcast n wtf is Jewellery and wtf is watches(luxury) and why there is no single global luxury brands from India like LVMH, Tiffany and co, Omega,cartier etc
ethos...an Indian company
Unveiling an industry been kept behind the walls even after the rise of corporate era .... Really excited to invest in my coming 3 hours
Thanks, Nikhil.... an interesting session.
Nikhil: You are are a bar owner, you are already a cool person
Meenakshi: Yeah i know that🔥🔥
750 ML Packing is in India only, Rest of the world is 700 ml , full bottle
Not true
Abhishek’s journey from debt of 50 crores to a thousands crore business 🫡
What a podcast man, I am so curious about this niche, always googling and reading the govt. papers for the regulation and now this podcast gave me a good pov.
I can vouch for people's lager
Hi sir I request you to get disposable cutlery products manufacturering industry experts to the show
Like paper, packing industry, paper plates and cutlery , pulp and mold product industry
Eco friendly disposable bag and cutlery manufacturing industry.. plastic products industry etc
Because these industries will generate more employment and more environmental impact .. have great opportunity for export as well..
It will help people..
It can be a common man businesses..
This goes against reuse principles. Also Reusing plates are more sustainable and they're at a home/gourmet style setup, I think it doesn't make sense to use disposable items
I am based in china…I can help to source
@@abhijithganesh2064 yes reusing the plates are good but. disposable are used outside of home . Like hotels and catering.. it avoids spreading diseases. Using disposables is convenient .
There are eco friendly alternatives like banana leaf. Areca palm leaf plates. Etc
Perfect topic for next episode..... Medical and Healthcare industry
I was just searching for this and 10 seconds later you uploaded
Full of noice...ears are paining a lot...not able to listen more than 30 mins in a single stretch... first episode like this in entire WTF episodes. Sorry to say this...Radico guy and lady are unbearable to hear!!
As I believe that why celebrities like cricketers or actors do not bring the business in huge because at the present the main audience or followers of these are kids are mostly kids or put it in a right way so under age and the major chunk of audience or followers are of age between 18 to 24 and they mostly those who don't go to job or are sitting in home and don't have a lot of disposal income that they spent on looking to a famous person and just go and buy. I think using a celebrity face to bring business is a future thing in india. To double check my opinion you can check your viewers age it will be mostly of kids and then a major part will be 18 to 24 and they will be mostly from tair 2 or 3 cities where the availability is also a major issue and disposal income is also very low .......
I can be wrong ....
🎉
Well said
Intresting
😮😮😮
@@user-yv8xc4ym3k Tq ❤
26:10 loved it guys!
This Shuchir Suri guy was VERY insightful! learnt alot from this