Global alcoholic beverages major Diageo has set up a high profile advisory group in India, to be chaired by HDFC Chairman Mr Deepak Parekh, to advise the management on strategic matters as the firm aims to strengthen its position in the country.
“The India Advisory Group will provide independent counsel to Diageo’s management team in India and to its regional and global leadership on a broad spectrum of strategic matters, including corporate and brand positioning, talent development,” a company spokesperson told PTI.
The other members of the Advisory Group include Former Cabinet Secretary Mr Naresh Chandra, Ex-Executive Chairman of the Murugappa Group Mr M A Alagappan and Former Chairman of Hindustan Lever Ltd Mr Ashok Ganguly, according to the company.
Mr Parekh will be the Chairman of this group. Former Managing Director of Diageo India Mr Ravi Rajagopal will also be a part of the group as Diageo’s representative.
The spokesperson added that the strength of this group is a demonstration of India’s importance in Diageo’s strategy for emerging markets.
Diageo had earlier this month announced its entry into Indian-made foreign liquor(IMFL) segment with the launch of Rowson’s Reserve whisky in the premium segment.
It had stated that it was aiming to corner 20 per cent of the upper segment of IMFL by the turn of 2015, with the new product.
The premium whisky market in India is around six million cases annually, growing at 22 per cent. It is expected to touch 15 million cases by 2015. In terms of revenue, the market size for the segment is valued at £150 million (over Rs 1,150 crore).
Diageo is the world’s top spirits company and owns brands like Johnnie Walker and VAT 69, and premium vodka in its Smirnoff range. Diageo Plc is present in India through its Mumbai-based arm Diageo India.