Jim Beam maker targets India as third-biggest market by 2030

Suntory Global Spirits, the maker of Jim Beam and Yamazaki, expects India to become its third-largest market by revenue by 2030. Chief executive Greg Hughes said the company is making progress on a previously set target of $1 billion in annual sales in India, where it currently generates $150 million. India is the world's largest whisky market by volume, with 260 million cases sold in 2025.

To close the gap with rivals Diageo and Pernod Ricard, Suntory will focus on scaling its locally made whisky Oaksmith for the mass and mid-premium segments, while deploying imported Japanese and American brands such as Hibiki and Toki for premium consumers. The company has no immediate plans to launch an Indian single malt, despite the category's growth. It currently holds 95% of the Japanese whisky segment in India and 44% of the American whisky category.

Hughes said India's legal-drinking-age population will add about 100 million consumers by 2030, unlike shrinking bases in mature markets. He described India as "dynamic and exciting, but complicated and highly regulated." Suntory will initially invest in commercial capabilities and supply infrastructure rather than large acquisitions, and may consider ready-to-drink products as a second-phase opportunity once the whisky business reaches scale.