Sustainable and Phygital Innovation Driving Tax Stamps in India

India is the largest market in the world for liquor tax stamps, given that 27 states consume 30-35 billion tax stamps annually. While tax stamps at a global level are mainly used on tobacco products as part of a federal scheme, the situation is different in India, where almost all stamps in circulation are used on alcoholic beverages at the individual state level – and no stamps are used at all on tobacco products.