"We are targeting 20 million cases annually with a 10 percent market share of the Indian beer market from around 2-2.5 million cases and 2 percent market share now. So the acquisitions are part of that strategy."

Bilimoria, a cross-bencher in the British House of Lords, said his group's plans to enter the Indian wine market were quite alive. The group produces more than 10 varieties of reds, whites and rose in Spain, France and South Africa.

"We have been looking at Nashik and Bangalore for our wines. But a country like India cannot have just two locations. There are bound to be more. We are taking a closer look at other places. We will soon have something to say on that."

The co-chair of the Indo-British Partnership Network launched by the two governments a few years ago, Bilimoria said he saw a huge potential for wines in India, but hoped for a rationalised duty structure.

He said even in Britain, wines can sell for as low as three pounds, or less than Rs.250. "I see no reason why it should not sell for the same or even lower price in India."