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It is not only in India, but in a large number of countries across the world, liquor is a heavily taxed business. Despite being heavily taxed, if one looks at the long term trends, it is business which grows at a certain rate irrespective of all headwinds. In India, liquor is a state subject and many state governments publicly say they don't want to grow, but if one looks at their revenue collection numbers it is clear they cannot stay without it. Despite all the headwinds, what is that which makes them grow?

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