New Delhi, Sep 11
The Indian authentication and traceability (A&T) industry is projected to reach Rs 10,612 crore in FY 2024-25 and Rs 16,575 crore by FY 2028-29, reflecting a strong upward trajectory with a forecasted compound annual growth rate (CAGR) of 11.3 per cent, a report said on Thursday.
Globally, the A&T market stood at $147 billion in 2023 and is projected to grow to $382 billion by 2032.
Factors such as the rise in counterfeiting, growing e-commerce penetration, consumer awareness, and regulatory requirements are contributing to the sector’s growth.
The report was prepared based on survey responses from ASPA member companies, along with in-depth interviews with government authorities, industry stakeholders, and global bodies.