The import value of men's or boys' underwear and nightwear not knitted or crocheted to India is forecasted to decline steadily from 2024 to 2028, starting at $1.1536 million in 2024 and decreasing to $1.01 million by 2028. The year-on-year percentage decrease clarifies a consistent downward trend, with an average annual contraction in value around 2% to 3%. Given the market stood at a comparable level in 2023 to 2024, this protracted downtrend indicates moderated demand or potential substitutions in domestic production.
Future trends to watch for include:
- Shifts in consumer preferences towards sustainable and locally made products.
- Potential trade policy or regulatory changes impacting import costs.
- Exchange rate fluctuations affecting import affordability.
