New Delhi, June 3 -- India isn't just raising a toast, it's raising the bar. The country is now the fastest-growing alcohol market among the world's top 10 liquor-consuming nations even as global demand dipped.

Beer outpaced all other categories in India in 2024, while whisky continues to dominate, putting the country on a path to cross $50 billion in alcohol sales by 2031, according to new data exclusively shared withMintby London-based spirits consultant IWSR. India could even possibly dethrone France and the US as the world's top Scotch marketby volume by 2027, it said.

The country's alcohol market grew 9% by value last year, reaching just under $40 billion, IWSR said. That's an increase of over $3 billion in 12 months, marking India...