In 2023, the import of waterproof footwear covering the ankle but not covering the knee to India stood at a significant figure in the thousands of US dollars. From 2024 to 2028, the forecasted data indicates a steady decline. The imports are expected to decrease from 137.1 thousand US dollars in 2024 to 90.83 thousand US dollars by 2028.
The year-on-year variation showcases a consistent downward trend, with a noticeable decrement in each subsequent year. This results in a compounded annual growth rate (CAGR) that reflects a negative growth trajectory, signifying an average decrease per year over this five-year span.
Future trends to watch for:
- Global economic conditions influencing import trends.
- Domestic manufacturing capabilities improving, potentially reducing import needs.
- Shifts in consumer preferences towards alternative footwear options.
- Regulatory changes affecting import tariffs and duties.
