New Delhi, Dec. 30: Boom or gloom, anytime is a good time for the booze business.

The economic downturn, topped by the terror threat, has slowed down liquor sales in bars and restaurants, but home tipplers have raised the industry’s spirits and its overall sales figures.

Not only has the liquor industry bucked the financial crisis affecting most other sectors, it has managed to post 18-20 per cent growth, up from 10-12 per cent in 2007.

“The industry is recession-proof,” bragged Vijay Mallya, the chairman of the UB Group that accounts for 70 per cent of the spirits market.

Industry experts said alcohol consumption went up in good times and bad. “During the Great Depression of the 1930s, the huge demand for alcohol led to a boom in bootlegging as there was a lot of money to be made in the illegal liquor trade,” said Anand Kapoor, a Calcutta-based wine expert.

Similarly, the last few years of boom have seen the industry grow at an average of 12 per cent as tipplers drink to celebrate. Industry sources pegged the current average monthly sales figure at 13-14 million cases, a rise of 17 per cent over last year.

Diageo — the world’s largest alcoholic drinks maker — said sales of brands priced above Rs 50,000 a bottle recorded high growth in the country. With its reserve brands — high-priced brands known for “fine craftsmanship” — growing at 40 per cent, Diageo plans to introduce a few more, including Zacapa rum and Ketel One vodka.

United Spirits, Moet Hennessey and Pernod Ricard are also planning to introduce a variety of single malt Scotch for the high-end market.

United Spirits, which has introduced the 160-year-old popular single malt Scotch, The Dalmore, will soon bring Isle of Jura 40 and Dalmore 1973, sources said.

Diageo, which boasts a wide range of malts in its international portfolio, has expanded its Indian portfolio with brands such as Cragganmore, Caol Ila, Glen Ord, Glen Elgin, Clynelish, Cardhu, Glenkinchie and Singleton of Glen Ord.