Gastric cancer, ranking as the fourth most prevalent cancer and the second leading cause of cancer-related deaths worldwide, poses a significant public health challenge with approximately 800,000 new cases and 650,000 deaths annually, with 60% of cases occurring in developing countries. Regions with the highest incidence rates, exceeding 40/100,000 in males, are Eastern Asia, the Andean regions of South America, and Eastern Europe. Incidence rates are notably higher among socio-economically disadvantaged groups and in developing countries. The aim of this study was to analyze the levels and ratios of pepsinogen-I and pepsinogen-II in gastric dysplasia and malignancy. Conducted at the Pathology Department of MGM Medical College and Maharaja Yashwantrao Hospital in Indore, Madhya Pradesh, the prospective study spanned one year from May 2020 to April 2021 and included a total of 30 cases diagnosed with gastric dysplasia and malignancy through endoscopy and histopathology. The results revealed a significant decrease in serum mean PG-I level and PG I/II ratio in patients with gastric cancer (P=0.00). Moreover, both the mean serum PG-I level and PG I/II ratio were lower in patients with gastric cancer compared to those with dysplastic lesions.