India was today (1 April) given the honour of becoming the first Asian nation to join the Paris-based Organisation of Vine and Wine (OIV), which looks after the global rulebook on do’s and don’t’s for the wine fraternity.
The news comes only a few weeks after a Vinexpo/IWSR survey predicted that Indian wine consumption will double over the next four years, to around 5m bottles.
Yet, as India’s star rises over the global wine village, one of the country’s key players is on life support.
Indage Vintners, which a year ago changed its name from Champagne Indage due to a run-in with France’s Champagne heavyweights, has turned from pioneer to drop-out.
The High Court in Mumbai has ordered the firm to be wound up and the group has less than a week to prove that it has a credible plan to pay off spiralling debts of INR4bn (US$89m).
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