In 2023, the import of machinery for leather and skin goods making, except sewing, to India was valued at $15 million. From 2024 to 2028, forecasted data shows a gradual, linear decrease in import values from $14.958 million to $14.545 million, indicating a slight but consistent decline over five years. The Compound Annual Growth Rate (CAGR) over this period is negative, reflecting an average decrease each year. Year-on-year variations from 2024 onwards are modest, with a decrease of around 0.7% per annum.
Future trends to watch include potential shifts due to technological advancements in machinery, changes in trade policies, and evolving domestic manufacturing capabilities that could impact imports. The leather industry’s adaptation to sustainability demands might also influence machinery imports.
