Viksit Bharat at the core of Diageo India's strategy, says CEO Praveen Someshwar
Diageo India CEO Praveen Someshwar says the company’s future strategy is rooted in participating in Viksit Bharat, with a focus on premiumisation, innovation and double-digit growth.
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For Praveen Someshwar, the managing director and chief executive of Diageo India, the measure of success goes beyond sales and margins. It lies in whether the company can align itself with India’s broader development ambitions — what he calls participation in Viksit Bharat.
“I think the core for us is: how do we embed ourselves in society and participate in Viksit Bharat? And if we are to participate there, you need to grow in double digits at minimum. You need to obviously do it in a profitable manner. You need to create a portfolio of the future which builds on the occasions Gen Zs as well as millennials are growing up on,” Someshwar said in an interview with CNBC-TV18.
A Consumer Market of the Next Decade
Someshwar argues that India’s fundamentals make it uniquely placed to power growth. “India will be the consumer market of the next decade, as I see it. It’s got its ducks in a row, in spite of everything going on around the world. Look at the demographics of the country. Look at how the middle class is growing, look at GDP growth, and that’s a great place to be running a business,” he said.
United Spirits, which currently generates about $1.5 billion in revenue, is targeting double-digit growth over the next five years. “We are already roughly $1.5 billion in terms of revenue. At a double-digit CAGR in five years, that’s an exciting proposition,” Someshwar said.
Building on Strong Foundations
Someshwar credited his predecessors, Anand Kripalu and Hina Nagarajan, with setting the stage. “They’ve done wonderfully well for the organisation. And you can see the momentum in the organisation. It just speaks volumes about how Diageo has embedded the business in India, and how these leaders have done phenomenally well. So that’s my first point. I think they made my task easier — that’s how I put it. And therefore, they have future-readied the organisation to embrace competition, to embrace the regulatory landscape.”
He outlines three key pillars for the future: shaping the portfolio, embedding the company in society, and creating an organisation ready for tomorrow. “One is, how do you future-shape our portfolio so that we can win come what may with the consumer? That’s number one. Number two is, how do you embed Diageo in society and therefore win with society at large, versus winning only as Diageo? And three, how do you create an organisation of the future?”
Premiumisation and Value Creation
United Spirits’ growth strategy relies heavily on premiumisation. “I constantly look at value, because the way I see it is: consumer in occasions, how do I get a share of the occasion, and how do you grow that share of the occasion? I would love to see volumes consistently grow, but more importantly, how do I keep premiumising and look at value,” Someshwar said.
He added: “The way I’d look at it is: I think premiumisation is real in India.”
The company’s portfolio reflects that scale and ambition. “We have a powerful portfolio, three ₹1,000-crore brands, three ₹500-crore brands, four ₹100-crore brands — wow. This is scale. We are amongst the top 10 equity brands — we have five of them within Diageo. That’s a powerful space to be in,” Someshwar said.
Innovation for the Future
Someshwar also emphasized innovation as a driver of growth. “How are we embedding innovation within the organisation? You can see us investing in our R&D, investing in talent around it. So, it gives me a clear opportunity for us to unlock the future portfolio.”
Looking Toward 2030
Ultimately, he ties the company’s ambitions back to national progress. “If I were to look at 2030 and look back, we’ll need to measure ourselves against each one of them. And we should be able to say: wow, there is more talent coming out of Diageo, there is more growth coming out of Diageo, there are more consumer occasions owned by Diageo. That’s what will make it exciting.”
For Someshwar, embedding Diageo India in Viksit Bharat is not just a slogan but a growth imperative: a way of ensuring the company thrives as India transforms into the world’s next great consumer market.
