In 2023, the import of not knitted or crocheted men's and boys' jackets and blazers of synthetic fibers to India stood at approximately 25.5 million USD. From 2024 onwards, the forecast indicates a steady increase in imports, reaching an estimated 31.404 million USD by 2028. This represents a compounded annual growth rate (CAGR) of about 4.17%. Year-on-year growth rates show a consistent upward trajectory, marking between 4.59% to 5.73% annually throughout the forecast period.
Looking ahead, several trends are noteworthy:
- Rising demand for synthetic fibers due to their durability and affordability compared to natural fibers.
- Growth in disposable income, potentially increasing consumer spending on fashion and apparel.
- Strategic trade agreements or policy changes that might affect import tariffs or quotas.