In 2023, the import value for yarn of combed wool to India was approximately 1.5 million US dollars. From the forecasted data, a downward trend is evident from 2024 to 2028, with a consistent yearly decrease. The year-on-year reduction in import value averages around -3.5%. The Compounded Annual Growth Rate (CAGR) for this period shows an average decline of about -3.65% per annum over the 5 years.
Future trends to monitor include:
- Global wool market fluctuations, which may impact cost competitiveness and thus import volumes to India.
- Technological advancements in yarn production, influencing domestic alternatives over imports.
- Customs and trade policies revisions impacting the ease and costs of imports into India.
