In 2023, India's budgetary expenditure on agricultural product safety and inspection was below 7.54 billion INR. From 2024 to 2028, the expenditure shows a steady year-on-year increase, reaching 10.28 billion INR by 2028. This signifies a consistent growth trend, with significant annual percentage increases. The five-year compound annual growth rate (CAGR) demonstrates robust growth, reflecting increased governmental focus on agricultural safety.
Future trends to watch for include:
- The impact of policy changes aimed at strengthening food safety standards.
- Advancements in technology that could enhance inspection processes.
- Potential international collaborations affecting budget allocations.
