In 2023, the budgetary expenditure on agricultural product safety and inspection in India was estimated at 33.8 million Euros. The forecasted data from 2024 to 2028 shows a consistent decline in expenditure, moving from 31.26 million Euros in 2024 to 22.15 million Euros in 2028. This represents a year-on-year decrease, with an average annual decline (CAGR) over five years around 6.57%.
Future trends to watch:
- Impact of this decline on food safety and accessibility.
- Government policy shifts to address emerging food safety challenges.
- Technological advancements in agriculture influencing cost efficiencies.
