In 2023, the import value of complete and assembled watch movements to India stood at an estimated level (provide estimate if possible), forming the basis for expected growth. Forecasts from 2024 to 2028 indicate a steady year-on-year average increase, signaling robust demand growth. The compound annual growth rate (CAGR) suggests a consistent upward trajectory. Key factors influencing this trend include rising consumer demand for luxury goods, growth in the middle-class segment, and an increase in lifestyle-oriented spending.

Future trends to watch for:

Technological advancements in smart watches and potential shifts in consumer preferences.
Impact of economic policies on import tariffs and trade regulations affecting the watch industry.
Growth in domestic watch manufacturing and potential substitution effects.