Calcutta, Dec. 28: Gurgaon-based Kyndal India Pvt Ltd is betting on the rising demand for Scotch whisky in India to fuel the growth of the Cutty Sark brand.

The Kyndal group, which is an importer, manufacturer and distributor of spirit brands in India, has formed a 50:50 joint venture with Glasgow-based Edrington to bottle and promote Cutty Sark - a blended Scotch brand - in India

'The Scotch whisky market is estimated at around 1.5 million cases and is growing annually at the rate of 10-12 per cent. We were looking at growth opportunities in the category. Cutty Sark is already a well-known brand. The purpose of this joint venture is to manufacture and distribute the brand in India,' said Siddharth Banerji, managing director of Kyndal India.

The whisky will be bottled in Kyndal's Goa unit, which has a capacity of 60,000 cases per month.

'We have a strong distribution network in different parts of the country, including in Bengal and Tripura in the eastern region,' Banerji said. He added that this would help the joint venture - Edrington Kyndal India Pvt Ltd - to secure a market share of 10 per cent in the segment within a one-and-a-half years.

Priced at around Rs 1,800 for 1 litre, the blended Scotch will compete with Teachers and 100 Pipers in Calcutta.

The company will initially focus on building the Cutty Sark brand before introducing more brands in the growing Scotch whisky segment.

According to the IWSR (International Wine and Spirit Research) forecast report 2014-19, two Asian markets - China and India - are said to be the largest-growing spirits markets between 2013 and 2019, together accounting for a rise of 120.5 million cases in annual spirits consumption.

Banerji said Kyndal India, which has a strong presence in the southern region through the sale of Bols brandy, is looking to foray into the premium rum segment.