The import of fixed electrical resistors for India, with a power handling capacity exceeding 20 watts, shows a significant decline over the forecast period from 2024 to 2028. In 2023, the imports stood at a higher baseline expected to be reduced year-on-year, marking a decrease of around 12% each year, resulting in a remarkable 46% decrease by 2028 compared to the forecasted figure in 2024. The compound annual growth rate (CAGR) over the five years is expected to be negative, highlighting a clear downward trend.
Future trends to watch for include technological advancements that may reduce the necessity for imports and the potential rise of local manufacturing capabilities. Additionally, policy changes affecting tariffs and the availability of raw materials could impact these import trends further.
