Tag Archives: business update

GIFT City Earns nearly 1 cr from liquor sales

The Gujarat government has earned ₹94.19 lakh in revenue from the sale of liquor to employees working at Gandhinagar-based Gujarat International Finance Tec-City (GIFT City) where alcohol consumption has been permitted since December 30, 2023.

The Chief Minister Bhupendra Patel, who also holds the Prohibition and Excise portfolio, told the Gujarat Assembly in a written reply to a question by Congress MLA Amit Chavda that as of January 31, 2025 people have consumed 3,324 bulk litre spirit, 470 bulk litre wine, and 19,915 bulk litre beer at the fintech hub. Gujarat is a “dry” state where manufacture, sale, and consumption of liquor are prohibited, but the government made an exemption for GIFT City in 2023.

Suntory Holdings establishes Suntory India

Names Masashi Matsumura as Managing Director

Suntory Holdings has announced the establishment of Suntory India Private Limited, which aims to cover corporate functions required to build a firm business foundation and accelerate growth in its existing spirits business and establish opportunities for soft drinks as well as health and wellness businesses in the Indian market. The new company will commence its operations in July.

“We are delighted to unveil a new base of Suntory Holdings in India, a country with a large population and a rapidly growing economy,” said Tak Niinami, President & CEO of Suntory Holdings. “India is a remarkably attractive market and a key geopolitical player on the global stage, with strong cultural and economic ties with Africa, the Middle East, and Asia. Together with our spirits business, Suntory Global Spirits, we will enhance our presence as a multifaceted beverage company in this vital market by supporting our soft drinks and health & wellness businesses to build foundations in India through investments and partnerships.”

Suntory India will be headed by Managing Director, Masashi Matsumura with its office located in DLF Cyber City, Phase II, Gurgaon, Haryana.

The Group offers a diverse portfolio of products, from award-winning Japanese whiskies Yamazaki and Hibiki, iconic American whiskies Jim Beam and Maker’s Mark, canned ready-to-drink -196, The Premium Malt’s beer, Japanese wine Tomi, and the world-famous Château Lagrange. Its brand collection also includes non-alcoholic favourites Orangina, Lucozade, Oasis, BOSS coffee, Suntory Tennensui water, TEA+ OolongTea, and V energy drink, as well as popular health and wellness product Sesamin EX. Founded as a family-owned business in 1899 in Osaka, Japan, Suntory Group has grown its operations throughout the Americas, Europe, Africa, Asia and Oceania, with an annual revenue (excluding excise taxes) of $20.9 billion in 2023. It has a strength of 41,511 employees across the world.