The forecasted data indicate that total support for fossil fuel production in India is expected to increase steadily from 2024 to 2028. Starting at 9.77 billion USD in 2024, support is anticipated to grow to 12.0 billion USD by 2028. The year-on-year growth rate between 2024 and 2025 is approximately 5.8%, followed by a 5.4% increase for both 2026 and 2027. The Compound Annual Growth Rate (CAGR) for the period from 2024 to 2028 is about 5.2%, reflecting a consistent uptrend in fossil fuel support.
Future trends to watch for include potential shifts in government policy towards renewable energy, international pressure on carbon emissions, and market dynamics that may affect fossil fuel demand and subsidies. Additionally, technological advancements in energy production could influence these forecasts significantly.
