In 2023, the import of shawls, scarves, and veils of silk to India stood at an estimated 1.53 million US dollars. Forecasted imports show a consistent year-on-year increase: 3.8% in 2024, 3.6% in 2025, 3.5% in 2026, 3.3% in 2027, and 3.1% in 2028. The Compound Annual Growth Rate (CAGR) over the next five years is projected at 3.46%. This steady growth highlights a positive trend towards increasing demand or reliance on imported silk accessories.
Future trends to watch for include:
- Fluctuations in global silk prices impacting import values.
- Shifts toward sustainable or alternative materials that could alter demand trajectories.
- Effects of trade policies or tariffs on import volumes and costs.
- Changes in consumer preferences due to fashion trends and cultural influences.