The Indian liquor industry, the third-largest in the world, is showing signs of recovery after facing challenges in previous quarters. Factors such as the impact of the COVID-19 pandemic and subsequent lockdowns affected the industry, but recent data suggests growth. The Indian whisky market, valued at $14.9 billion in FY20, is projected to reach $22.4 billion by FY25. Sales of Indian Made Foreign Liquor (IMFL) products have increased by 14% in 2022-23 compared to the previous year. Factors contributing to this growth include the revival of events, marriages, and demographic trends. Premium and luxury brands are expected to expand their market share in the whisky segment.