Ep #18 | WTF, Alcohol is a $70B Business in India? | Nikhil Kamath explores Gaps & Opportunities
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- Опубликовано: 15 июл 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. :)
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 😂
Petition to bring DR VIKAS DIVYAKRITI
Challenge him....himmat he to.malya ko la ke.dikha na
RADICO guy isn’t spilling much of his beans. 😊
I would say he is intelligent.
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're just getting the reality check, sweetheart..
It is what you are all about, the impoverished entity..😜
No offense..✌🏻
@@greymatter9400
Why don't you consider the main Banda, who can buy all of them together..
At least, think of his generational legacy. He literally built everything from the scratch...
Rajeev Samant from Sula would have been a great addition to the panel.
Great podcast!
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....
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.🎉
Naval Ravikant 💯
Also add Peter Theil with Naval Ravikant ...
And also Vinod Khosla please ...
Balaji Sreenivasan
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 🌾 🙌🏽🌺🇮🇳
+1
Agritech has picked up a lot post pandemic, and is a great industry to pick up for next 5-10 years in India...
+1
Meenakshi ruined whole podcast experience all together….
So true
I think she didn’t got alot of places to add to, but quite insightful regardless
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
Meenakshi was so irritating 😡
Speaking over everyone. 🤦🏾♂️
Wouldn't expect any other comment from a user named habibi
@@gaitondebhau18what did he done to you?. Stop behaving like a 17 years old instakid
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
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.
the editor making sure we know what they drinking is honestly hilarious 🤣🤣
Yeah that true, it actually made it, hilarious !
It’s the mugs which have alcohol… smart move from the editor and team
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.
Minakshi's continous interruptions and her eyeroll at 2:42:44, so frustrating!
more like abhishek interrupting
The point is drug dealer never consumes drug
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.
'it is only his electrolytes'
got me 😂😂
Petition to bring ravishastri for this video on alcohol
😂
Petition for Raj sabha membership for Nikhil Kamath
We need more people like you where policies are made
Love it when Nikhil says let's do 5 minutes of introduction each.. and after over 50 mins the introductions are done❤
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 ❤❤
Do you think wine will be a good opportunity in future as the market share of wine is minimal
Will a brewpub chain succesful in india
Please do it twice in a month. We enjoy it a lot and also get a tremendous amount of knowledge.
The conversation would have been more interesting if Doctor Abby Philips had been the guest.
Honey wake up..
Nikhil’s 3 hour long podcast just dropped..
Good reason to bunk morning classes tomorrow.
the way you are helping todays youth with all the things which you are doing is really incredible . thank you so much
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 .
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.
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.
It is not all black and white ( pun?)
People take medicines too , maybe one spoon at a time. Now if you drink that entire bottle of syrup its not going to be good right?
Even medicines are artificially created .
So maybe the doctors have a point when they say 60ml of alcohol a day is ok or good .
It is a cultural thing that has survived thousands of years after all.
@@vikram-qf8xq not a single fckng real doctor in the world will say that 30ml alcohol is good
Suraj Shenai has my respect for his humility. He always paved way for others to express their opinions, whenever they overshadowed him!
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.
Weekend is perfectly set now with Nikhil's podcast to watch💯
Abhishek’s journey from debt of 50 crores to a thousands crore business 🫡
the amount of passion all these people have who come on this podcast is insane 🔥
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!
I can understand how Meenakshi was feeling. It's a common feeling, where men are talking continuously and she's intervening because she wanted to make everyone feel that her presence also matters. When she was saying something these guys didn't even consider to pay attention. I would request Nikhil, please don't bring someone who is treated as left out.
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!
Nikhil put my favourite subject ALCOHOL on table😂
Damnn, the Chill its his electrolytes, got me!
a brewer , a bar owner , an event organiser and a distiller. awesome pick of speakers
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. 👏👏👏💥💥💥
Again, it's only his electrolytes 🤣16:41
Never seen this business the way it is...great insights
loved the table todayy ...... fun + knowledge :)
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.
EP 18 for 18+
Lol
In Maharashtra it's 25+
@@rishikesh4 pune💀
Minakshi is Ruining everyone's stories by interrupting in between ...
Yes even the Radico guy. The beer fellow went quiet so many times
i found the podcast very informative not only about alcohol but about any consumer product and i really liked the food prep part.
Really appreciate how Nikhil kept pushing for specificity and names and how to actually get in touch with the right people! Great job!
2:17:30 Best part of the podcast was when Nikhil starts speaking
No amount of alcohol is safe amount . please dont drink alcohol at all.
As always, One of the best podcast from India. I listen to these on repeat.
I was just searching for this and 10 seconds later you uploaded
Petition to bring Mukesh Ambani
I don't think he drinks. although after this entire wedding, I won't blame him if he starts
That's def not iced tea 😂. Loved the episode though.
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 🍻
bro you are just spoiling us with this rich content at this point
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!!
2:29:17 I feel I’ll trust a bartender or waiter more if he suggest me to get that rather than an celeb saying me to get this where I know he is getting paid to say so, I feel it happens in most sectors like if sales person at hardware stores tell me to get atomberg fan instead of BAJAJ I may heist a little but in his second push I’ll get that because I trust my hardware person more than any celeb, cuz I see him daily…
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
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
I know many people said Meenakshi was talking over other people, but notice every time she makes a good point. For women in business/start up space you have to be aggressive like that, otherwise you aren't heard
We get it, Meenakshi, you run a bar where talking with people is key, but please don't interrupt conversations. Let others complete their thoughts. The podcast could have been better if everyone waited their turn to speak. Overall, it was a good podcast and I learned a lot from all of you. Thank you.
Aslo love to see one podcast on indian real-estate market with great leaders.✊✊
Big fan of ‘Peoples lager’ from the Goa Brewing co. Absoluty love it. ❤
Highly recommended for craft beer lovers
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
I am 18 yr old i am obsessed by the video editing of your podcast i wonder how did you did it .please sir can you make a channel where u can members from your team can tech things.please😊.(Please make this comment most liked so that some 1 from the community pays attention to it)
Such an insightful episode! Loved it :)
Eight finger Eddie is such an underated beer!!! It is literary a top tier international level beer!!!!!
Naval Ravikant, Kunal Shah etc hv given their views so extensively in different podcasts and hv possibly nothing new to share, we need more hands on mid level start up founders preferably non digital start ups, that is going to benefit the audience
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
Abhishek Khaitan is a genius! He knows his business really well.
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
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?
M27 same here :)
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.
Why does people like Nikhil who has seen so much success and extremely admirable personality still promoting unconscious businesses like Alcohol in this lavish ways. What good does this bring to normal people of India where people need more conscious leaders to talk about sustainability and stir conversation on social entrepreneurship.
Please do something more meaningful than this.
Alcohol is better than ganja
No matter how much alcohol will be disliked, as long as people who like it are there the industry will stand strong. Because people give business to the industry. Alcohol isn't the best thing I understand many people finding this episode out of their interest, but like I said as long as people who like it are there the industry will remain, the business will run.
And to cover your second point,
Entrepreneurship is a social movement, because apart from personal gains it has to stand the test of time and gain trust of society. To give a better perspective, look at yourself questioning the reason of the podcast because of these entrepreneur's businesses. This is exactly what they must withstand to be called as entrepreneurs. I don't promote alcoholism. I'm only an opportunist.
@@dheerajvithalkar I don't care if you're an opportunist and I am not demonizing anyone here. It depends on your stage of development. I am talking about the host who in my view has crossed that stage and is probably on a higher level of development and not driven by survival and opportunity. I expect people like Nikhil to be an agent of change and their work should inspire integration and evolution of society to a higher stage in an autonomous way. Anyway, I still watch his show and love the work that he is doing to create sustainable funds.
Nikhil: You are are a bar owner, you are already a cool person
Meenakshi: Yeah i know that🔥🔥
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
This Shuchir Suri guy was VERY insightful! learnt alot from this
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
Watching from gujarat.
Thank you Nikhil for this crash course on the Alcohol industry.
Thanks, Nikhil.... an interesting session.
Petetion to bring Kunal shah and Naval Ravikant on the show!🙌🏻
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
After all podcast I feel like nikhil is role model for me like tata heritage to our 1950 era
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 😅
Meenakshi is not letting others finish their point of view. Very very annoying!!
I can vouch for people's lager
Perfect topic for next episode..... Medical and Healthcare industry
This was the best episode for me so far, it felt like the most natural conversation ever, and speaking about Meenakshi, damn she's got some real good insights
I was thinking of a beer brand and u dropped this!😭 Thanks nikhil ❤️
There is no labourer that's making 800rs a day
me