Kerala is the major market for liquor in India. Among the Indian states, Kerala stands at the top of the list with a per capita consumption of 8.3 litres. It is very evident that alcoholic beverage industry, mainly the hard spirits or Indian Made Foreign Liquor(IMFL), is the major source of revenue for many of the Indian states and Kerala is not an exception to this. In the year 2020-2021, the contribution of liquor industry to the state's exchequer is about Rs. 11,700 Crores, out of which a lion's share, of about Rs.10.000 Crores comes from IMFL. But the cost incurred to manage the ill effects of alcoholism such as law and order problems, ill health, accidents and family disorders are manifold than the revenue generated. About 35% of the Keralites consume alcohol and the average age of the first consumption of alcohol has come down to 13 years in the State. It is estimated that among the consumers of IMFL, about 40% exhibit alcoholism in Kerala. This book presents the relevant perspectives of alcoholic beverage industry in Kerala alongside an assessment of excise policies during different regimes.