According to Muslim Consumer Group:
SourceHORLICKS MADE IN INDIA IS A HALAL PRODUCT
According to an e-mail from Smithkline Consumer Healthcare Ltd with Reference No.: 54021853208 sent to a Muslim consumer that there is no animal derived ingredients except milk solids and no alcohol used as a solvent in flavor in Horlicks made in India.
Horlicks also has a vegetarian green dot symbol on the bottle. Horlicks is sold in Indian Pakistani stores throughout USA and Canada.