The projection for India's import of natural rubber in smoked sheets shows a declining trend from 2024 to 2028, starting at $145.01 million in 2024 and decreasing to $137.04 million by 2028. Compared to 2023, this illustrates a potential contraction in imports, as measured by value. While the year-on-year decrease averages around 1.45%, the compounded annual growth rate (CAGR) over this five-year period is approximately -1.40%, indicating a steady, albeit modest, decline.
Future trends to watch for include:
- Global production levels of natural rubber which might influence prices and import volumes.
- Policies aimed at boosting local production and reducing dependency on imports.
- Shifts in demand from key industries within India that rely heavily on natural rubber, such as the automotive sector.
- Potential environmental regulations impacting rubber sourcing and trade.
