Sula Vineyards Founder Sees Room to Grow India’s Wine Market

Sula Vineyards sells approximately one million cases of wine a year and operates five wineries, according to Aabkari Times. Founder Rajeev Samant says the wider Indian wine market remains small, leaving domestic consumption growth a key opportunity for the company and the sector.

The Nashik-based company has built a hospitality business alongside wine production. Its accommodation capacity has risen from 10 rooms to about 150, and its destinations receive more than 350,000 visitors annually, including attendees at Sula Fest. The two-day festival now draws about 15,000 people, the publication reports.

Samant returned to India 26 years ago after working at Oracle in Silicon Valley and established the winery in Nashik. The company’s early constraints included carrying out some laboratory work for its first grape harvest in a bungalow garage, Aabkari Times reports.

Samant pointed to changing consumer preferences, including the growing importance of women consumers to wine brands, and raised reduced in-person socialising as a possible factor affecting drinking occasions. He also acknowledged a difficult period for Sula’s stock since its 2022 listing, while citing product development, ongoing projects and improved execution as areas of focus.

He sees potential for international interest in India’s wine market and said trade agreements could alter import duties. India’s alcohol market remains dominated by brown spirits, according to the source, while Samant sees room for wine to expand.